Send Money to India via ACH .pdf
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Send Money to India via ACH
Rapidly evolving technology has transformed various aspects of our life. Right from the way we
communicate to the way we transact business; the internet has become an integral part of our life. This
also includes innovative methods of overseas fund transfers such as international wire transfers and
Automated Clearing House (ACH). Although both are mediums of electronic funds transfer (EFT), each
method has its own benefits and limitations.
The ACH network is governed by National Automated Clearing House Association (NACHA)—the
Electronic Payments Association—and the Federal Reserve. Under the ACH system, more than 10,000
financial institutions in the US are a part of an electronic network and connected to each other. The two
national ACH operators are Reserve Banks and Electronic Payments Network (EPN). ACH relies on batch
processing, instead of making transactions in real-timeand is popular with commercial as well as
It’s as simple as entering an amount and booking a transaction, and the money is directly credited to the
recipient’s account. Moreover, it allows you to remit money from several bank accounts. And the best
part is that you can send money to India from the comfort and safety of your home as the entire process
is carried out online. It is commonly used for debit transfers such as loan and mortgage repayments, and
online utility bill payments as well as credit transfers like tax refunds, social security benefits and direct
deposit of payroll to name just a few.
Although it’s quite similar to a wire transfer, the main factor that gives ACH a competitive edge over
wire transfer is the cost involved. While banks usually charge processing fees for the transfer, there are
no fees at all for transfers made through ACH. Hence, it is one of the best ways to send money online.