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

Stax

JUNE 27, 2024

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). Some bills you can pay include mortgage, credit card, utility, merchandise, and auto loan payments. On the other hand, credit card payments have an average 1.5%

Wire Transfer

Wire Transfer Wire Wires ACH

What is an ACH Deposit and How Does It Work?

Stax

APRIL 23, 2024

That beingbenign said, ACH deposits are not completely free, though they are much more affordable than other wire transfers and credit card processing fees. Step 4: Payment processing Once the RDFI approves the fund’s amount, the direct payment will be processed. When you use Stax , ACH transactions only cost $0.29 on average.

ACH

ACH Direct Deposit ACH Network Wire Transfer

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

What is an ACH Deposit and How Does It Work?

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