ACH vs. Wire Transfers: Which Is Right for You?
Nanonets
SEPTEMBER 8, 2023
Once a wire transfer has cleared, it becomes irrevocable, with a few exceptions. A transfer can be reversed if the bank is responsible for an error, such as sending funds to the wrong account or an incorrect amount. Wire transfers, while advantageous for recipients due to immediate fund availability, carry more risk for senders.
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