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

Stax

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.

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What Is an Electronic Check?

Payment Savvy

An eCheck is often referred to as a direct debit, ACH payment, or ACH transfer. With an electronic check, money is electronically transferred from the payer’s checking account to the seller’s checking account, where it is directly deposited after passing through the national ACH network. Bank account details.

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Make Electronic Payments Simpler: All you need to know

Nanonets

Credit cards may encourage impulsive and unnecessary purchases They may charge high-interest rates for balances not paid in full by the due date Fees and fines may be charged for late payments Bank Transfers Bank transfer is the movement of funds from one bank account to another using recipient data like account number, bank routing number etc.  While