What is an ACH transfer and how does it work?

The US Automated Clearing House (ACH) network processes electronic bank transfers, primarily domestic payments such as payroll, bills, and direct deposits, but it can also support international transfers through local payment rails in destination countries. International ACH transfers require recipient bank details, are typically processed in batches, and generally take one to five business days, with fees commonly ranging from US$5 to US$50 plus possible foreign-exchange charges. They are regulated and can be reversed in cases such as fraud or payment errors, making them useful for recurring payments, supplier payments, payroll, and transfers between accounts, though availability depends on participating banks and countries. International ACH Transactions (IATs) refer specifically to reporting requirements for providers rather than a separate payment type. Compared with ACH, SWIFT wire transfers can be faster but often involve higher bank and intermediary fees, while fintech platforms may offer lower fees, competitive exchange rates, faster delivery, and multi-currency accounts; Airwallex is presented as one such platform offering transfers in more than 60 currencies across over 150 countries and regions.

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