What's the Difference Between an ACH Transfer and a Wire?
If you want to pay a bill or send money to another person, you have several options when choosing how to move funds from one bank to another. Of course, you can write a check or give someone cash, but what if you need to move money quickly to a person or business a considerable distance away? What are your options to transfer funds without putting a check in the mail, which can take days or weeks to reach its recipient?
To move funds quickly from one bank to another, you can send money via ACH or wire transfer. These two methods of transferring money are fairly similar, especially on the surface, but they also have key differences.