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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. 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.

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ACH Transfers: How long do they take?

Nanonets

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). Day 1, 10:00 PM: The processor works in conjunction with your bank (the ODFI) to submit a file to the ACH network.

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