ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?
Stax
JUNE 27, 2024
billion in 2022 and estimated it to reach $510.30 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).
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