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Hot take: People keep mixing up ACH and wire transfer times
I've seen three clients this week in Phoenix get hit with late fees because they thought a same-day ACH would clear like a wire. It matters because the cutoff times are totally different, and a wire is still the only real instant option. Anyone else notice this mix-up causing problems?
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kevinc8415d ago
Honestly, wires are just a hassle for most things. The fees are crazy and same-day ACH usually gets there fast enough.
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paige_ellis5914d agoTop Commenter
Last year my bank charged me $35 for an outgoing wire that felt totally unnecessary. I agree with @kevinc84, same-day ACH has covered every urgent bill for me since then. The only time I needed a real wire was for a house down payment because the title company demanded it. For regular stuff, the fees really do add up and ACH is just simpler.
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