Cryptocurrency Q&A
Is ACH US only?
Is ACH US only?
DigitalLegend
Mon Jul 22 2024
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5 answers
1432
I've been hearing about ACH payments in the crypto and finance world, but I'm curious if this system is exclusive to the United States. I understand that ACH stands for Automated Clearing House, and it's a network that facilitates electronic fund transfers in the US banking system. However, given the global nature of cryptocurrency and finance, I'm wondering if there's an equivalent system or alternative methods for handling similar transactions in other countries. Is ACH truly limited to the US, or are there comparable systems in other regions that offer similar functionality?
5 answers
henry_grayson_lawyer
Wed Jul 24 2024
The ACH network operates by batching transactions together and processing them according to a predetermined schedule.
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Stefano
Wed Jul 24 2024
The scheduled processing ensures efficiency and timely completion of transactions, reducing the need for individual banks to handle each transfer separately.
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Riccardo
Wed Jul 24 2024
The ACH transfer system facilitates interbank digital money transfers through the Automated Clearing House network.
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KimonoGlitter
Wed Jul 24 2024
In addition to the ACH network, there are other avenues for digital money transfers, including cryptocurrency exchanges. One such exchange is BTCC, a UK-based platform that offers a range of services.
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Giuseppe
Wed Jul 24 2024
This network serves as a hub for over 10,000 financial institutions in the United States, encompassing both banks and credit unions.
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