What's ACH Bank Debit?

What's ACH Bank Debit?

Skip to How to Debit money through Bank Debit (ACH)
Skip to Bank Debit (ACH) features 

When you pay by bank debit (ACH), we'll debit money from your bank account once you have authorised the payment through our website. 

Once you've set up a transfer, all you need to do is click on the bank debit payment method, enter in your bank details, log in to your online banking and you're away! This will then set up a one-time debit from your checking account to ours, meaning that these login details will need to be entered each time you make a payment via bank debit.

Here's all the information you need to know about bank debit (ACH) transfers:

Bank debit (ACH) features:

Basic Information   Notes
General availability US only Cannot be used for transfers from outside the US
Availability from banks Widely available Most banks should support ACH bank debit as it's the same method most companies use to pay their employees. If you're unsure, please check with your bank
Time for your money to be cleared to TransferWise 1-4 working days It's almost always on the lower end of the scale, but please keep in mind that it can take up to 4 days in addition to the regular conversion time for your money to be cleared to our system when sending money via ACH bank debit.
Additional fee 0.20%  
Extra required Details   In addition to the required details for the country you're sending to
Recipient's address Yes Must be a residential address and not a PO box address
Your US state and ZIP code (or full address for non-US residents) Yes  
SSN Verification/ID Verification Yes An SSN is requested from every customer sending from the US. Failing this, you will also have the option to provide a US or non-US ID document (except in the case of ITIN's where a non-US document is required). If you do not have an SSN, you will be asked to provide a reason for this.
Amount Lock Transfers No Not available via any US payment method. However, if you successfully set up the ACH bank debit before 19:00 EST the next business day after creating the transfer, you will get an effective specific amount due to the fixed exchange rate. You can read more about 24 hour rate lock below.
Minimum/Maximum transfer size $3/$15,000* *Upper limit is for ACH bank debit only. A single debit or a sum of those cannot go over the limit, which resets every 24 hours. The ACH limit in Nevada (NV) and Hawaii (HI) is $10,000.
Transfers to an email address No  
24 hour rate lock Yes For transfers from USD, the exchange rate is fixed providing we receive your money by 19:00 EST the following working day after you set up the transfer. With ACH bank debit payments, the rate stays locked beyond this time providing a 'successful' attempt is made by this time. 

How to pay by Bank debit (ACH)

Once you choose Bank Debit (ACH) as your payment method, choose your bank. If it's not on the list, choose "All other banks", and we'll ask you to enter your details manually. 

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