What are some examples of transfer transactions?
An example of an AI chatbot conversation about transfer transactions and their types.
Can you give me some examples of transfer transactions?
Sure! Transfer transactions include wire transfers, ACH transfers, and peer-to-peer payments like Venmo.
What is a wire transfer?
A wire transfer is an electronic transfer of funds across a network, typically used for large amounts.
How does an ACH transfer work?
An ACH transfer is an electronic payment method that allows funds to be transferred between bank accounts.
What are the fees associated with these transfers?
Fees vary; wire transfers often have higher fees, while ACH transfers are usually low-cost or free.
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