Remove IBAN Remove RDFI Remove Transaction Limits
article thumbnail

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

Stax

Global ACH is available but only for bank-to-bank networks Wire transfers have no geographic limitations. The utility company (the ODFI) passes the ACH files to the financial institution, which then sends a file with the payment request to the customer’s bank (the RDFI). The bank then completes the payment on behalf of the customer.