What is the difference between a Wire Payment and an ACH deposit?

 

The key differences are speed and guaranteed funds.

  • A Wire Payment will always be faster than an ACH deposit by at least a day.
  • A Wire Payment is guaranteed funds.  An ACH deposit could be reversed.

 

Other differences are:

  • ACH deposits can only be sent in either CAD or USD, and only to Canadian or USA domiciled banks. 
  • ACH deposits require less banking information to send.
  • ACH deposits are cheaper.

 

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