Automated Clearing House (ACH)

What Is ACH?

ACH is a term for a specific type of bank transfer from US accounts that sends money in batches. The transfer generally takes longer than other bank transfers, but can often be cheaper than a wire transfer, or free.

The Automated Clearing House (ACH) network allows businesses and individuals to make and receive payments for various purposes. These can include funding or receiving a currency exchange, receiving payroll and salary, paying bills and taxes, direct deposits and several other payment services.

Funding a money transfer via ACH is easy as you will typically only need the bank account details for yourself and the currency exchange provider. Most ACH transactions in the US are paid in three or fewer business days, as the banks batch ACH transfers together into certain slots. An ACH transfer also has more security than a bank wire transfer, and they are often reversible if you make an error. ACH transfers are best used for budget-friendly transfers that are not time-sensitive.

ACH is similar to direct deposits, bank transfers and clearinghouses. ACH is a US-specific network. Similar networks exist in Europe (SEPA — the Single Euro Payments Area), Australia (Direct Entry / Bulk Electronic Clearing System or BECS) and other countries around the world.

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