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ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

Stax

ACH Payment Wire Transfer Speed of transactions Typically takes 1-3 days for the receiving bank to receive the funds Within a day for a domestic wire transfer. International wire transfers can take up to 7-10 days Costs and fees Around 1% of the payment amount. No fees on the receiving side.

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What Is an Electronic Check?

Payment Savvy

Bank account details. What’s more, you’re required to submit all the same information that is typically found on a paper check, including: Checking account number. Bank routing number. Payment amount. Consider Direct Deposit System. The Bottom Line.

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