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International Payments

ODFI

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

Stax

JUNE 27, 2024

If you’ve been accepting and using electronic payments in your business, you’ve probably come across two of the most popular terms in the digital payments scene— automated clearing house (ACH) and wire transfer. While they’re both electronic modes of payment, they have stark contrasts when it comes to their processes.

Wire Transfer

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ACH Transfers: How long do they take?

Nanonets

MARCH 21, 2023

ACH transfers can basically be considered as digital mail sent out in bulk. Each transfer is sent as a message within a batch of outgoing requests by the bank making the request (known as the originating depository financial institution, or ODFI). This file includes each of your individual payment ACH credit requests.

ACH

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

ACH Transfers: How long do they take?

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