Difference between an ACH and Wire transfer

Differences between the two transfer methods in the United States.

Updated this week

ACH transfers (also known as domestic transfers) are a payment method that uses a batch process that allows for managing multiple transactions simultaneously. This results in very low costs or, in many cases, free transfers from the bank.

On the other hand, Wire transfers are handled as individual transactions through specific requests. Due to this individualized nature, Wire transfers tend to be more expensive at the time of sending because of the higher processing costs they entail.

About the processing times

Regarding processing time, ACH transfers are usually complete within 3 to 6 business days, thanks to the U.S. banking system's clearing method. In contrast, Wire transfers are completed in a shorter period, generally within 48 business hours.

If you are going to receive a Wire transfer

Using your U.S. account details provided by DolarApp, you can receive Wire transfers for a fixed cost of $3 USD. Remember that the account details used for a Wire transfer are different from those used for an ACH transfer. Here’s how to find them in DolarApp:

  1. Open the "Receive" tab in DolarApp.

  2. Select the "Dollars" option.

  3. Then select "Wire."

  4. If this is your first time opening your U.S. account details, you may need to complete some additional identity validations.

  5. That's it! You can now check your U.S. account details for Wire transfers.

📌 Make sure always to provide and use the "Memo" when making a Wire transfer to DolarApp. If you do not use it, your transfer will be returned.

Additional information about Wire transfers

  • If your banking app, your employer, or the app of the person sending you the Wire transfer does not allow for entering "additional information," "message to recipient", or a similar field, and therefore you cannot enter the "memo," we recommend opting to do an ACH transfer using the other account details.

  • If you have any questions about the Wire transfer process, the process in general, or any issues, do not hesitate to contact our support team via the chat available in the app or by emailing help@dolarapp.com.

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