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  2. While many people think that an electronic funds transfer (EFT) and automated clearing house (ACH) payment are the same thing, there are some key differences. A quick rule of thumb is that all ACH transactions are EFT transfers, but not all EFT payments are ACH transfers. Both payment methods allow for automatic funds transfers from your bank account, but they use slightly different methods to do so.

    quickbooks.intuit.com/ca/resources/running-a-busi…
    Technically all ACH transfers are EFTs, but not all EFTs are ACH transfers. It’s sort of like how all Kleenex are facial tissues, but not all facial tissues are Kleenex. People use the name interchangeably, but ACH refers to a very specific system in the US called the Automated Clearing House (ACH). But EFTs refer to a broader payment category.
    rotessa.com/2019/09/10/efts-vs-ach-whats-the-diffe…
    ACH and EFT payments are similar in that they are both forms of electronic payments. However, EFT refers to all digital payments, whereas an ACH is a specific type of EFT. An ACH payment occurs when money moves from one bank to another bank. This money moves electronically, through the Automated Clearing House Network.
    www.northamericanbancard.com/blog/ach-vs-eft-w…
     
  3. People also ask
    What is the difference between ACH and wire transfer?ACH transfers are typically free but may take a couple of days to process, while wire transfers are faster but can be more expensive. There are alternatives to ACH and wire transfers, such as peer-to-peer payment apps, which may be more convenient for certain transactions. What is an Electronic Funds Transfer (EFT)?
    What is the difference between ACH & EFT?When it comes to sending and receiving funds electronically, you’ve probably heard of an ACH (Automated Clearing House) payment, wire transfer, and EFT (electronic funds transfer), but may not know how they differ.
    How do ACH payments differ from other electronic payments?Here are a few ways that ACH payments differ from other electronic payments: Security. All EFT payments, including ACH payments, are designed to be secure. However, since the Automated Clearing House transactions are so strictly regulated, ACH payments are especially resistant to fraud.
    What is the difference between ACH Transfer and direct deposit?An ACH transfer is an electronic, bank-to-bank money transfers processed through the Automated Clearing House Network. A direct deposits is a transfer into an account, such as payroll, benefits, and tax refund deposits. Direct payments involve money going out of an account, including bill payments.
     
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