What’s an ACH transfer?

An ACH transfer is an electronic fund transfer through the U.S. Automated Clearing House Network. The ACH network is used by U.S. companies and individuals to process transactions such as direct debits, direct deposits, electronic checks (eChecks), and electronic funds transfers (EFT).

This network transfers funds electronically between banks, and indirectly, between businesses, their employees, and consumers. It is mainly used by American businesses to process payroll payments to their employees. Many consumers also use ACH to make recurring payments to businesses. Even if a company does not use the ACH network for payroll, most U.S. companies are able to access the ACH network to make business payments. 

ACH transfers usually take one business day to reach the recipient's bank account. However, there are some cases where they can take up to three business days to complete. It's important to consider that during weekends or bank holidays in the United States, the Automated Clearing House does not process transactions, so these events could affect the timing of your transfer's receipt. 

ACH transfers are also safe. Transactions processed through ACH are protected by a variety of security measures, including encryption and authentication. Additionally, as all transactions are processed through the ACH network, they're subject to strict federal regulations and oversight.

Keep in mind that your Higlobe receiving account can only be used to receive ACH transfers.

A routing number is a sequence of nine digits used by U.S. banks to make sure funds are sent to the correct bank within the United States.

It is sometimes called an “ABA routing number”, referring to the American Bankers Association which created these identifiers.

It’s important to remember that your account number and routing number are not the same thing. Routing numbers help institutions identify your bank, and account numbers help your bank identify your individual checking or savings account.

If you need any further assistance, our Support team is available during business hours from 9:00 AM to 6:00 PM, Monday to Friday via Live Chat,Whatsapp, or by email at support@higlobe.com.