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The Top Payment Methods For Small Businesses

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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.

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

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ACH is also the technology behind most peer-to-peer money transfer services in the US, including Paypal, Zelle, Cash App, and Venmo. 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.