ACH transfers

How ACH transfers work

ACH transfers are the most common way to send or receive money online in the U.S. Wyre uses the ACH transfer system for payments to and from U.S bank accounts. Below is a guide as to how they work and how to use them on our platform.


What is an ACH transfer?

ACH transfers are electronic transfers that are processed by the Automated Clearing House network from one bank to another.

This network is the biggest U.S payments system that offers low cost and reliable transfers. Unlike wire transfers that are processed in real-time, ACH transfers are processed by a network operator in batches made only a few times a day.


Types of ACH transfers

ACH transfers are processed either as a credit or debit, which vary in processing times and cost:


  • ACH debit transactions, or withdrawals, involve money getting “pulled” from your bank account. These transactions typically take 3-5 business days to complete. 
  • ACH credit transactions, or payouts, involve money sent from your Wyre account to your bank account. These transactions complete the next business day.

How long does ACH take?

ACH debits typically take 3-5 business days to complete after initiating a transaction. On average, it takes 2 business days for the funds to settle on your end and another 2 to settle on ours. 


ACH credits take 1 business day to complete after initiating a transaction, so long as the transaction is submitted before the cut-off time. The cutoff time is Monday through Friday, 12:00 PM PST.


Business days are weekdays only, Monday to Friday, 9 am - 5 pm PST. Holidays and weekends are not counted as business days. When you place an order in the evening the ACH transfer is not started until the following business day.

For more information on processing times, please visit our page here.


ACH Limits 

Below is Wyre's weekly and monthly ACH debit limit. Users are not able to withdraw more than $25,000 per week.


7-day limit — $25,000

30-day limit — $50,000

60-day limit — $75,000

Yearly limit — $250,000

Wire vs. ACH

When deciding which type of transfer is best, it all comes down to three major components: cost, bank location and processing time.


⚠️ Wire transfers are only available to Wyre dashboard users. Partner users are only able to use ACH transfers.


ACH transfers are best for low-sum, non-urgent transfers. Wire transfers are best for large-sum and time-sensitive transfers, either in the U.S. or abroad. 


The daily limit for Wire credits is $150,000. This limit can be increased but will need to be reviewed by the compliance team.


ACH Exceptions & Delays

There are exceptional cases, where we may require additional information and documentation after you've initiated an ACH transaction.


If we're having a hard time verifying the user's bank account details, we may ask that the user submits an ACH authorization agreement to authorize Wyre to withdraw funds from their bank account before releasing the funds.


Please note that there's a limited time frame in which we can hold user funds. If we don’t hear back from the user, the transfer will be canceled. If funds have already been withdrawn, they will be sent back to the user bank account.

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