What’s an ACH transfer?

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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).

The ACH network transfers funds electronically between banks, and indirectly, between businesses, their employees, and consumers. The use of the ACH network is widespread in the US - it is used by most U.S. businesses to process payroll payments to their employees, and by many consumers to make recurring payments to businesses. And 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 funds transfer typically takes one business day to reach the recipient’s bank account, though in some cases they may take up to three business days to complete.

 

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

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