Wire transfers and ACH transfers both move money electronically between accounts, but they work differently and suit different situations.
ACH transfers (Automated Clearing House) are processed in batches through a shared network.
- Speed: typically 1–3 business days; Same Day ACH is available for many transactions.
- Cost: usually low or free.
- Best for: direct deposit, paychecks, bill payments, and routine transfers between your accounts.
Wire transfers are sent individually and settle directly between banks.
- Speed: typically the same business day for domestic wires sent before the cutoff time.
- Cost: a per-wire fee — see the RMO fee schedule in MyRMO.
- Best for: large or time-sensitive payments, such as a home purchase closing.
The key difference — reversibility: a wire transfer is generally final once sent, so double-check the recipient name, account number, and routing number before you confirm. ACH transfers can sometimes be returned or disputed.
You can start most transfers in MyRMO; wires and larger transactions can also be handled at an RMO Retail Center. Scam caution: never wire money to someone you have not independently verified — wire fraud is rarely recoverable. See common scams and how to avoid them.