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

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Some people refer to ACH payments as direct debit, direct deposit, or auto-transfer. ACH is also the technology behind most peer-to-peer money transfer services in the US, including Paypal, Zelle, Cash App, and Venmo. This is the first step for both debits and credits.

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What is an ACH Deposit and How Does It Work?

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While some direct deposit apps, such as Zelle, Venmo, and PayPal charge their users for same-day transactions and deposits, the Automated Clearing House eliminates the middleman and encourages ease in banking. Most ACH deposits are completed within 1-3 business days.

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