Cryptocurrency Q&A
Why is ACH cheaper?
Why is ACH cheaper?
BenjaminMoore
Mon Jul 22 2024
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7 answers
1087
Could you elaborate on why Automated Clearing House (ACH) transactions tend to be cheaper compared to other payment methods? From a technical and financial perspective, what factors contribute to this cost difference? Are there any specific operational efficiencies or cost savings that ACH provides that other payment methods lack? I'm interested in understanding the economic rationale behind why businesses and individuals often prefer ACH for lower-cost transactions.
7 answers
Giulia
Wed Jul 24 2024
In the realm of digital finance, the choice between ACH and wire transfers often boils down to cost and speed.
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DigitalDuke
Wed Jul 24 2024
ACH transfers, renowned for their affordability, are typically more economical due to their longer processing time.
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Lorenzo
Wed Jul 24 2024
While wire transfers complete in a matter of hours, ACH transactions can take up to four business days to reach their destination.
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Alessandra
Wed Jul 24 2024
Despite this, the recent changes to Nacha's operating rules in 2021 have revolutionized ACH transactions.
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Giuseppe
Tue Jul 23 2024
These modifications have significantly expanded access to same-day ACH transfers, bridging the gap between cost and speed.
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