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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). The most common types of direct deposits via ACH transfer include employee salary payments, government benefits, and tax returns.

Wire Transfer

Wire Transfer Wires Wire ACH

What is an ACH Deposit and How Does It Work?

Stax

APRIL 23, 2024

ACH transactions provide a quick and easy way to pay employees, submit and retrieve tax returns, and automatically control your finances within 1-2 business days. Step 4: Payment processing Once the RDFI approves the fund’s amount, the direct payment will be processed. And the best part about ACH? on average.

ACH

ACH Direct Deposit ACH Network Wire Transfer

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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