ACH Transfer
ACH (Automated Clearing House) transfer for institutions is a method of electronically transferring funds between bank accounts.
Service features:
Low cost
ACH transfer fees are usually lower than wire transfers.
Ease of Use
Many banks offer this service online or over the phone, and it is easy to use.
Flexibility in timing
You can schedule ACH transfers for a specific date in the future.
High Security
ACH transfers are highly secured and monitored by the ACH network.
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What are the uses of ACH transfers for individuals?
- Pay bills
- Send money to family and friends
- Transfer salaries
- Pay off loans
- Investing Money
What is the maximum amount I can transfer through this service?
- The value of transferring between accounts internally is 50 thousand dinars per day
- The value of transferring between accounts externally is 3 thousand dinars per day
How does ACH transfer work for institutions?
- The transfer request is sent through your bank.
- The transfer information is verified and it is ensured that there is sufficient balance in your account.
- The funds are transferred to the recipient’s account in the other bank via the ACH network.
- You receive confirmation that the transfer has been completed.
Note: The processing time for ACH transfers may vary from one bank to another, but it usually takes from one to three business days.