Take the 2-minute tour ×
Personal Finance & Money Stack Exchange is a question and answer site for people who want to be financially literate. It's 100% free, no registration required.

How do services like Square link bank accounts to people's personal accounts? Is there some API they're plugging into? Is this the same as ACH?

share|improve this question
add comment

1 Answer

Is this the same as ACH?

It's not "the same as ACH", it is ACH. All the transfers to and from your bank accounts to Square/PayPal/other bank accounts go through ACH. The exception is wire-transfer, which goes in a different (and much faster, and more expensive) route.

share|improve this answer
    
What's the other route called? Is there a website that describes exhaustively these routes? Who controls them? –  Kinnard Hockenhull Feb 12 '13 at 3:01
    
@KinnardHockenhull en.wikipedia.org/wiki/… –  littleadv Feb 12 '13 at 4:07
add comment

Your Answer

 
discard

By posting your answer, you agree to the privacy policy and terms of service.

Not the answer you're looking for? Browse other questions tagged or ask your own question.