FedWire, IRS and Legal - Payments Space

The Top Payment Methods For Small Businesses

Stax

APRIL 10, 2025

An ACH transfer is an electronic movement of funds from one bank account to another via the ACH (automated clearing house) network, while a wire transfer uses a secure network like SWIFT (Society for Worldwide Interbank Financial Telecommunication) or Fedwire (Federal Reserve Wire Network) to initiate the movement of funds.

Small Business

Small Business Wire Transfer BNPL ACH

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

Stax

JUNE 27, 2024

Government payments – You can use ACH to pay individual and business taxes to the IRS. Your bank statement will list this payment under “IRS USA Tax Payment” as proof of payment. For domestic wire transfers, the bank uses Fedwire (Federal Reserve Wire Network) or CHIPS (Clearing House Interbank Payments System).

Wire Transfer

Wire Transfer Wires Wire ACH

Payments Space

The Top Payment Methods For Small Businesses

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

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