What is the Difference Between ACH & Wire Transfer?

When researching your options for a payment system, you may have come across the choice of supporting ACH transactions but weren’t quite sure if they applied to your shop. While ACH transactions make the most sense for merchants running eCommerce businesses, any merchant who conducts online transactions in any capacity could benefit from implementing ACH. ACH stands for Automated Clearing House, and you can think of it like a check without the paper. If you’re enrolled in a direct deposit program or pay your bills with monthly auto-drafts, you’re already used to using ACH. It’s a little wordy, but technically speaking: ACH is a computer-based clearing and settlement facility established to process the exchange of electronic transactions between participating depository institutions.* Every year, ACH transactions move upwards of $41 trillion dollars across 24 billion transactions.* With that in mind, it’s no surprise that ACH now represents a significant portion of…

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