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TIL the difference between ACH and wire transfers the hard way when my rent was late
I sent my rent via ACH on a Friday thinking it would hit by Monday. Landlord called me Tuesday saying it wasn't there. Turns out ACH takes 2-3 business days with my credit union in Austin. Wire transfer would have cleared same day but costs $25. Now I always ask what method they expect before sending anything over $500. Has anyone else gotten burned by assuming ACH is instant?
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emerychen1mo agoMost Upvoted
ACH isn't always 2-3 days, some banks post ACH payments same day if they process them early enough. Your credit union might just be slow with batch processing.
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morgan3163mo ago
A whole day late isn't really that big of a deal.
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beth_hart683mo ago
Three days late to my rent is when I start charging a $50 late fee, so ONE day is nothing.
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