With the global financial activity blooming and blooming, electronic payments are becoming increasingly popular to be a part of people’s life.

Sometimes, clients choose ACH transfer, sometimes they pay by SWIFT system, what’ s the difference?

ACH is short for Automated Clearing House, a payment system that connects banks. ACH is used for electronic credit and debit transfer payments to institutions nationwide in the United States. It can only be made between banks in the United States and usually takes 2 to 3 business days to complete a transaction.  The advantage of ACH is that the fees are relatively cheap, but the disadvantages are obvious: it can not be traced, there is the risk of money laundering and hidden dangers.

SWIFT is stand for Society for Worldwide Interbank Finanacial Telecommunication, hat can be used to transfer money from one bank to another, even can make cross-border payments. It is more time-sensitive and safer than ACH. Domestic payments often within the hour. International swift payments within 1-5 business days.The fee is about $10-$50 depending on destination. If you want to transfer money across borders from one country to another, you can't do Ach. SWIFT can do it for you.