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What is an ACH Transfer?

  • Updated

An Automated Clearing House (ACH) transfer is an electronic, bank-to-bank money transfer that's processed through the ACH network. The ACH network processes direct payments that can be used by individuals, businesses, and organizations to send money.

There are two types of ACH transfer methods:

  • ACH Pull
  • ACH Push

At PennyWorks, we use the ACH Push method to fund your account. Meaning the transfer is initiated in your bank account. Ultimately, the transfer mechanics are similar to sending a wire.