Does a bank ACH include wire transfers?

I know that ACH includes direct deposits into an account or a debit out of the account automatically to pay a bill...but can it include say, a set up automatic transfer from one bank account into the other? Thanks

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  • 8 years ago
    Best Answer

    ACH stands for Automatic Clearing House. It simply means that money is transferred between banks or between bank accounts at different banks. The Automatic Clearing House is one of the functions of the Federal Reserve Bank, which is a branch of the U. S. Treasury department.

    Thus all direct deposits are ACH deposits. All transfers from one bank account to another bank account at different banks are ACH transfers. Transfers from one account to another account within the same bank are not ACH transfers, because they don't go through the Automatic Clearing House of the Federal Reserve Bank.

  • 3 years ago

    So, how long did you date this "boyfriend" for? This actually appears like some form of money laundering operation and that's the way that regulation enforcement would be staring at it. in case you have pumped $200k by using your financial corporation account, place of commencing place secure practices is staring at you heavily already based upon the SARs that your financial corporation has been submitting. The IRS may be the least of your concerns, assuming that your information replicate which you probably did no longer turn any form of earnings.

  • 8 years ago

    bank transfers and wire transfers are two completely different things

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