What is the difference between instant payments, ACH, and Wire Transfers?
The biggest difference is funds availability and processing times.
Although same-day ACH and Wire Transfers move funds quicker than a next-day ACH or check, they still aren’t processed as quickly as RTP® or FedNow transactions. Here's how they stack up:
|
|
RTP® or FedNow |
Same-Day ACH |
Wire |
|
Typical Funds Availability |
Immediate |
Throughout Transaction Day |
Immediate |
|
Processing |
24x7x365 |
During Business Hours |
During Business Hours |
