ACH Transfers FAQ

A basic overview of how ACH transfers work at Wyre

Updated 4/14/2022

Wyre uses the ACH transfer system for payments to and from U.S bank accounts. In this guide, we’ll go over how ACH transfers work and everything you need to know about ACH transfers with Wyre.


What is an ACH transfer?

ACH stands for Automated Clearing House, referring to the network that processes electronic transfers of funds from one bank to another.

This ACH network is the biggest U.S payments system. It offers low cost and reliable transfers, and ACH transfers are processed by a network operator in secure batches made only a few times a day.


Are there different types of ACH transfers, and how long do they take?

ACH transfers can be processed as either a credit or debit. Depending on whether a transfer is done as a credit or debit, processing times and cost can vary as follows:

  • ACH debit transactions (withdrawals): funds are “pulled”/withdrawn from your bank account. These transactions typically take 3-5 business days to complete. On average, it takes 2 business days for the funds to settle on your end and another 2 to settle on ours. 
  • ACH credit transactions (payouts): funds are sent from your Wyre account to your bank account. These transactions take 1 business day to complete after initiating a transaction, so long as the transaction is submitted before the cut-off time. The cutoff time is Monday through Friday, 12:00 PM PST.
    Note: Business days are weekdays only, Monday to Friday, 9 am - 5 pm PST. Holidays and weekends are not counted as business days. When you place an order in the evening the ACH transfer is not started until the following business day.


What are the purchasing limits for ACH transfers? 

Here are our weekly, monthly, and yearly ACH purchasing limits:

7-day limit — $25,000

60-day limit — $75,000

Yearly limit — $250,000

Please note that these are rolling limits, so any successful purchase within a given timeframe will count against the purchasing limit.


ACH Exceptions & Delays

Occasionally, we may ask you to submit an ACH authorization agreement to authorize Wyre to withdraw funds from your bank account before releasing the funds. In short, this means that we may require additional information and documentation after you've initiated an ACH transaction.

Please note that there is a limited time frame in which we can hold funds. If we don’t hear back from the user, the transfer will be canceled. If funds have already been withdrawn, those will be released back to your bank account.


Still have questions? Our Support Team would be happy to help you! Contact us HERE.

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