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ACH vs. EFT Payments: What’s the Difference?

Payment Savvy

Barely a couple of decades ago, there were just a few options available for transferring money from one account to another, but the rise of internet banking has given way to a bunch of different services with different names, processes, fees, and waiting times. What Exactly is an ACH?

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

Stax

Scammers often trick people or divert funds into their accounts Convenience and accessibility More convenient for both businesses and customers. Businesses can set up automated payments via ACH debit Not as convenient as ACH payments due to the long processing period Geographic reach Domestic ACH payments are only available for US accounts.

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What Is an Electronic Check?

Payment Savvy

If you’re familiar with traditional check processing, where banks manually process physical paper checks and deposit funds into the appropriate bank accounts, then you probably get the idea of electronic checks. An eCheck is often referred to as a direct debit, ACH payment, or ACH transfer.

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