FedWire and Venmo - Payments Space

ACH Payment vs Wire Transfer Similarities and Differences: How to Choose Between ACH vs Wire

Stax

SEPTEMBER 17, 2024

ACH transfer is used for various purposes, such as payroll, paycheck direct deposits, recurring and one-time bill payments, Business-to-business (B2B) payments, direct deposit of tax refunds or government payments, Buy now pay later (BPNL), and person-to-person (P2P) payments such as PayPal , Cash App, Zelle, and Venmo.

Wire Transfer

Wire Transfer Wire Wires ACH

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

Stax

JUNE 27, 2024

ACH is also the technology behind most peer-to-peer money transfer services in the US, including Paypal, Zelle, Cash App, and Venmo. For domestic wire transfers, the bank uses Fedwire (Federal Reserve Wire Network) or CHIPS (Clearing House Interbank Payments System). The funds are now sent to the recipient’s bank account.

Wire Transfer

Wire Transfer Wire Wires ACH

Payments Space

ACH Payment vs Wire Transfer Similarities and Differences: How to Choose Between ACH vs Wire

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

Webinars

Stay Connected