CryptoAce
Fri Nov 29 2024
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7 answers
1215
Can you use a SWIFT code for ACH payments?
I'm wondering if it's possible to utilize a SWIFT code for making ACH payments. I know SWIFT codes are typically used for international wire transfers, but I'm curious if they can also be applied to the ACH payment system.
HanbokElegance
Mon Jul 22 2024
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7 answers
1654
Do you need a SWIFT code for ACH payments?
For those interested in the intricacies of financial transactions, I have a question. In the realm of digital payments, we often encounter a variety of systems and protocols. One such system is ACH, or Automated Clearing House, which facilitates electronic payments in the United States. Now, when it comes to international transactions, SWIFT codes are commonly utilized for identifying banks and facilitating cross-border payments. However, does this requirement extend to ACH payments, which are typically domestic in nature? Do we actually need a SWIFT code for ACH payments, or is it solely for international transactions? I'd appreciate any clarification on this matter as it could potentially impact the efficiency and cost of various payment methods.
