Caps, ODFI and Regulations

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

Stax

JUNE 27, 2024

ODFI submits ACH file – The originator’s bank or payment processor, also known as the originating depository financial institution (ODFI) submits the ACH entry containing the payment details. This is because they must pass through clearing houses that uphold strict guidelines and regulations.

Wire Transfer

Wire Transfer Wire Wires ACH

What is an ACH Deposit and How Does It Work?

Stax

APRIL 23, 2024

Step 2: Transaction initiation Once your client fills out the form, they will either send it to the ACH provider or the ODFI, which stands for Originating Depository Financial Institution. Most businesses only have to pay a 1% transaction cost , and the cost caps itself at $10. When you use Stax , ACH transactions only cost $0.29

ACH

ACH Direct Deposit ACH Network Wire Transfer

Payments Space

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

What is an ACH Deposit and How Does It Work?

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