What Is "ACH Transfer" ?

What is "ACH transfer" ? Is it "wire transfer" ?

 

Automated Clearing House transfer.

When money is sent from bank account to bank account, very much like PayPal only bank account numbers are used instead of email addresses.

 

Just to further on Colbyt's answer.

It is not the same as a Wire transfer. a wire transfer is much more secure than an ACH, but is also much more expensive. ACH is quick, and requires little verification, whereas a wire transfer requires both the receiving and the sending party to verify themselves and the funds before it can go through. ACH transfers are generally US bank to US bank, and Wire transfers can be international.

 

Hi,I want to know about ACH too,so basically ACH means transfer between US bank,is it right?so what if I don't have US bank account,is that mean that I can't make ACH transfer?thx for the explanation

 

It's not for US bank accounts only, it's bank to bank transfer. It could be two banks in your country as well.

 

To further Disguised replies. ACH is done between banks to banks but within the same country and not across borders.

If you do not have a US Bank account, you cannot receive money via ACH sent to you from another US Bank account.

Like in Singapore here, I can send money from my bank account to anyone else who has a Singapore bank account through the Electronic Transfer initiated via online banking or through the ATM machine.

 

There is no "ACH-transfer" existing outside the US. ACH is payment form between US banks only

 

Correct. the ACH is used for US banks only. They use different terms for different countries like in India the term used is "NET BANKING" or "NET TRANSFER". If you will ask the customer care support about ACH or wire transfer they will be shocked to hear this new word.

 

hey ,

please can someone here show us any tutorials talk about how to make ACH Transfer ?

thank you