 TITLE: What Is the Difference Between ACH and Wire Transfer? CONTENT: ACH transfers get their name from the Automated Clearing House network, which includes about 10,000 financial institutions. The ACH network can be used to process transactions such as direct debits, direct deposits, direct payments, electronic checks (eChecks) and electronic funds transfers (EFTs).\nBoth consumers and businesses use ACH transfers for transactions that fall into two categories: direct payments (ACH debit transactions) or direct deposits (ACH credit transactions). Some financial institutions also offer bill payment, which allows you to schedule and pay all your bills electronically using ACH transfers. Or you can use the ACH network to initiate transfers to individuals or merchants abroad. If you're a business owner, you can also use ACH transfers to pay your vendors or employees.\nOften, ACH transfers clear the bank in just a few business days if there are sufficient funds in the account. Transactions can take longer, though, under certain circumstances—such as if the system detects a potentially fraudulent transaction. END