What is an ACH transfer?

An ACH transfer is any movement of money from one bank account to another over the Automated Clearing House (ACH) network. This includes everything from person-to-person transfers and bill payments, to direct deposits from employers or the government. The ACH network spans roughly 11,000 financial institutions across the United States. 1.

What is instant ACH?

Maybe you’ve typed “instant ACH” into Google to understand what your options are for faster payments beyond cards and wire transfers. Let’s set the record straight: Payments on the Automated Clearing House (ACH) Network are not instant. “Instant ACH” does not exist.

What is the difference between ACH and RTP?

The ACH network makes it difficult to achieve truly instant transfers, though same day processing closes the gap. However, you do have additional instant transfer methods to choose from. The RTP network from The Clearing House is a real-time payments platform launched in 2017.

How does wise ACH work?

That means you can fund your transfer with a local USD ACH transfer, and Wise will pay out from their account in the country and currency you need, with the real mid-market exchange rate, and a low, transparent fee⁶. Because no money actually has to cross any borders, it’s also super fast — 45%+ of Wise payments are instant⁷.