Cryptocurrency Q&A
Can I ACH transfer to another person?
Can I ACH transfer to another person?
Giuseppe
Mon Jul 22 2024
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7 answers
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Could you please clarify if it's possible to initiate an Automated Clearing House (ACH) transfer to another individual? I'm curious about the feasibility of this transaction method for personal use, especially when it comes to transferring funds between two individuals. Is there a specific process or requirement that needs to be met in order to make such a transfer, or is it generally restricted to business-to-business or bank-to-bank transfers? Understanding the limitations and procedures would greatly assist me in making an informed decision regarding this potential transaction.
7 answers
CharmedClouds
Wed Jul 24 2024
BTCC, a UK-based cryptocurrency exchange, also offers a range of services that cater to the needs of digital currency users.
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DondaejiDelightful
Wed Jul 24 2024
For employers, ACH transfers offer a convenient way to deposit employee paychecks directly into their bank accounts, eliminating the need for paper checks.
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SolitudeSeeker
Wed Jul 24 2024
Similarly, individuals can utilize ACH transfers to pay bills online, simplifying the payment process and reducing the risk of lost or stolen checks.
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Giuseppe
Wed Jul 24 2024
The process of executing an ACH transfer typically involves providing the recipient's bank account information, such as the routing number and account number, to the initiating bank.
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Riccardo
Wed Jul 24 2024
An Automated Clearing House (ACH) transfer, referred to as a direct bank-to-bank payment, facilitates the transfer of funds from one's checking or savings account to another individual's account, regardless of the banks involved.
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