ACH Transfer vs. Wire Transfer - What is the difference?


ACH (Automated Clearing House) is a Federally-facilitated network used to electronically transfer funds from one financial institution to another within the United States. Transfers are sent to the Federal Reserve from the issuing bank, which is then sorted and deposited into the receiving bank - a process which takes about 3-4 business days. This service is typically free, and we’re happy to report that Aspiration does not charge a fee for incoming or outgoing ACH transfers!

Wire transfers, by contrast, have a more immediate processing time, often same day or the following business day if initiated after the cutoff time. As a result, wire transfers typically have a fee associated with them. For incoming domestic wire transfers, we charge a $2.06 service charge, and for outgoing domestic wires we charge $4.50.

For outgoing international wire transfers, we charge a $19.50 service charge, and for all incoming international wire transfers, we charge a $2.06 service charge.

Domestic wire transfers initiated before 1pm PT and international wire transfers initiated before 11am PT will be processed the same business day. If a wire transfer is sent out after those cutoff times, it will post by the end of the next business day.

At Aspiration, it is currently required that customers call our support team in order to initiate an outgoing wire transfer. You can reach us at 800-683-8529.