Questions tagged [ach]

Daniela Mon Jul 22 2024 | 6 answers 1416

I'm curious to understand the differences between SWIFT and ACH. As a professional in the field of cryptocurrency and finance, I've heard these terms used interchangeably at times, but I'm not entirely sure if they serve the same purpose. Could you clarify if SWIFT and ACH are essentially the same system for international and domestic payments, or do they have distinct functions and operational mechanisms? I'd appreciate a concise yet thorough explanation of their differences and how they're typically used in the financial world.

Eleonora Mon Jul 22 2024 | 5 answers 1652

Could you elaborate on the feasibility of sending Automated Clearing House (ACH) transactions internationally? I understand that ACH is a domestic network primarily used in the United States for electronic funds transfer between financial institutions. However, given the globalization of the financial system, does ACH offer any cross-border capabilities? If not, what are the alternatives for international payments that are both cost-effective and reliable? Also, could you provide any insights into the potential challenges or limitations of sending ACH transactions internationally, if such a service exists?

DigitalLegend Mon Jul 22 2024 | 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?

Giuseppe Mon Jul 22 2024 | 7 answers 1625

Could you please clarify if it's possible to initiate an Automated Clearing House (ACH) transfer to another individual? I'm curious about the feasibility of this transaction method for personal use, especially when it comes to transferring funds between two individuals. Is there a specific process or requirement that needs to be met in order to make such a transfer, or is it generally restricted to business-to-business or bank-to-bank transfers? Understanding the limitations and procedures would greatly assist me in making an informed decision regarding this potential transaction.

Martino Mon Jul 22 2024 | 6 answers 1518

Could you elaborate on the feasibility of reversing an Automated Clearing House (ACH) transaction? I understand that ACH is a widely used electronic payment system that facilitates transfers between financial institutions, but what happens if a payment is made in error? Is it possible for the sender or recipient to request a reversal, and if so, what are the typical steps involved? What factors determine whether a reversal will be approved or denied? Additionally, are there any fees associated with reversing an ACH transaction, and if so, who would be responsible for paying them? Your insights would be greatly appreciated as I'm considering the implications of using ACH for my business transactions.