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

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If you’ve been accepting and using electronic payments in your business, you’ve probably come across two of the most popular terms in the digital payments scene— automated clearing house (ACH) and wire transfer. International wire transfers can take up to 7-10 days Costs and fees Around 1% of the payment amount.

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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. Business owners can’t set up recurring or automated payments on wire transfers.

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