What is ACH and how does it differ from wire transfers?
Both ACH and wire transfers are electronic movements of funds. ACH transactions are easy and generally more cost-effective than wire transfers. When sending funds to or from the NHPDIP via ACH, Client Services initiates the ACH, thus eliminating the need for Participants to contact their bank. Also, usually financial institutions charge less for ACH transactions than they do wire transfers. The NHPDIP does not charge any transaction fees for either ACH or wire transfer requests, but Participants should check with their financial institution to find out what fees they charge for ACH and wire transfers. One other difference between ACHs and wires is that an ACH is a next-day transaction, while wires are typically same-day.
