What type of bank accounts in USA can be used for e-Transfer (ACH)?
You can use it if you have a consumer checking account or a consumer savings account with a bank affiliated to the ACH network in USA. You can also use your consumer money market accounts for online transfers. However, banks in USA treat money market accounts differently in the case of ACH transactions. While some consider it as consumer savings accounts, others treat it as consumer checking accounts. Hence, you’ll need to check with your bank in USA, as to how they classify money market accounts and accordingly select either consumer savings account or consumer checking account. Please note that e-Transfer (ACH) cannot be used for business / commercial bank accounts.
