ACH Transfer Brokers 2022 - Which Brokers Accept ACH Transfer?

ACH Transfer deposits are a convenient way for traders to fund a trading account, or even make a rent payment or buy clothes. This guide will unpack all you need to know about the payment method, including security, fees, speed and more. As automated payments continue to rise in popularity, it is worth having an understanding of how an ACH transfer works and the value one holds. We have also compiled a list of the top brokers supporting ACH Transfer deposits.

What Is ACH Transfer?

An ACH transfer is a transfer of funds processed through the automated clearing house (ACH) network. Although today, ‘ACH’ has become a generic term for such systems. Transfers are electronic and take place between banks (bank-to-bank). The ACH network (or equivalent) batch processes these transfers. These large-volume, aggregated transactions typically occur three times per business day.

An ACH transfer is essentially the modern-day equivalent to a paper cheque. However, while the basic logic is the same, it is a more reliable, quicker and cheaper method of payment. Examples of ACH transfers used today include direct deposits from an employer or government benefit program, bill payments and person-to-person transfers. They can also be used to make recurring payments into a savings account such as a college fund or retirement account or to fund a live trading account. In 2020, more than 2 billion ACH transfers were initiated.

In recent years, ACH transfers have become an increasingly popular way to fund live trading accounts. Many brokers and exchanges, including popular platforms Robinhood and Binance, accept the payment method, with more set to follow suit.

The primary value of an ACH transfer lies in its security, ease of use and efficiency. They are also usually free. There are no specific requirements and limits for the system, you only need a bank account.

How Does An ACH Transfer Work?

There are two types of ACH transfers; ACH Direct Deposits and ACH Direct Payments. And ACH Direct Deposit is an electronic transfer made from a business or government organisation to a consumer, e.g. tax refunds and government benefits. An ACH Direct Payment is a transfer made between individuals, businesses and other organisations. Examples include payments made on social apps such as Venmo, Monzo and ach transfer without verification in Spanish

ACH transfers are facilitated by most reputable banks including Citibank, Capital One, HSBC, RCB and Union Bank. They are accepted worldwide across Europe, North America, Asia and Australia and by a whole range of platforms, exchanges and brokers.


As a general rule, ACH transfers are free, although this does vary between banks and brokers. Some platforms may impose charges for certain types of transfers, e.g. a transfer from one current account to another held with a different bank. Others may charge a fee for international transfers, such as for a USA to India transaction. Ensure that you have read up on your bank’s and/or broker’s policies to avoid any unexpected fees.

Where fees do apply, costs are often nominal. A transfer fee is added by some institutions but, at an average of $3,000, it is not something to worry about. As a rule, brokers don’t tend to charge fees, though there may be some discrepancies here, meaning it may be worth ensuring that you’ve read through the details of your broker’s policy.

Most banks do impose a maximum transfer limit. Bank of America, for example, has a limit of $3,000 per day for standard delivery and $2,000 per day for next-business-day delivery. Similarly, U.S. Bank’s transfer limit is set at $2,500, whilst Chase Bank’s cap is much higher at $25,000.

Banks don’t tend to set a transfer minimum. Some brokers may have a minimum deposit and/or charge to make a deposit. If your bank does charge a transfer fee, it’s worth making fewer, larger deposits to avoid incurring additional costs.


An ACH transfer is not an instant payment solution. Instead, banks collect payments and then process them in bulk. Processing usually happens three times per business day. An ACH transfer typically takes between 1-3 business days to be credited, though just how long cannot be predicted easily. In some cases, the money will move on the day the process is initiated but this is not always the case. Transfers made late on Friday night may not be executed until Monday morning, for example. Some banks may offer same-day processing at an extra fee.

If you see that an ACH funding hold has been placed on your transfer or bank account, it means that the sum is pending approval or processing. The bank has been notified of the transaction but it will take some time to clear, usually hours but it may vary depending on the time of day, it can roll over.

As a means to fund a trading account, you should be aware that this isn’t an instant execution option. Planning ahead is key to ensure funds are accessible when needed.


ACH transfers are as safe and secure as the online banking system through which they are processed. As with any e-payment, fraud is a possibility and you should remain vigilant. However, when compared to sending cash or a cheque in the mail, ACH transfers offer a much safer solution.

Furthermore, there is usually a window of time in which a sender can recall an ACH transaction if it was made in error. The duration of this window will be specific to the bank, so ensure that you are familiar with your bank’s policy. The option for reversal grants a degree of security to clients and is fairly unique. It is not a luxury afforded with wire transfers, for example. Once these are made they cannot be reversed.

As a general rule, ACH transfers are a safe, secure and reliable way to fund a trading account. However, we recommend choosing a reputable bank and broker that offers some insurance or protection for account holders should anything go wrong.

How To Make Deposits/Withdrawals Using An ACH Transfer

To make an ACH transfer, you will first need to check that your broker supports them as a payment method. To do so, head to the deposits and withdrawals page on the broker’s website. If you are unable to find the information you’re looking for, get in touch with the customer support team, who should be able to point you in the right direction.

Once you have established that ACH transfers are supported, head to the deposits section in your trading portal. Under the ‘Funding’ tab, you should be able to select ACH transfer.

If you have any issues with your transfer, such as it not showing up, it having been declined or you have received an error message, contact your bank. Your bank will also be able to advise on any tracking queries and support with routing numbers.

Pros Of Using ACH Transfer For Traders

ACH transfers are a great way to fund your live trading account and, whilst they do not offer instant execution, they are:

  • Safe – on the whole, ACH transfers are safe and reliable. They are an established and widely used payment method, supported by major financial institutions. As with any e-payments, be wary of scams and ensure that you have opted for a reputable bank and broker.
  • Cheap – ACH transfers are usually free. If charges do apply, they tend to be nominal. As any trader will know, hidden fees can crop up anywhere, so it is refreshing to have a low or even no-cost option. When compared to wire transfers, another popular way to fund trading accounts, ACH transfers are much cheaper, albeit wire transfers can be quicker.
  • Convenient – making regular, recurring payments using ACH transfers is straightforward and much easier than writing out a cheque each time. You will also save yourself the cost of a stamp.

Cons Of Using ACH Transfer For Traders

Whilst ACH transfers are good, they’re not perfect. There are a few limitations worth keeping in mind:

  • Transaction Limits – many banks set maximum transfer limits. Limits may be per-transaction, daily or weekly. Banks can also impose limits on transfer destinations,  e.g. for international transfers. Most banks cap transfers at $10,000 per day, though this is not a hard and fast rule. For example, Chase Bank offers greater flexibility with a cap of $25,000.
  • Slow – ACH transfers take 1-3 business days to be processed. This is slow when compared to the multitude of instant transfer options that exist today. Whilst same-day transfers are becoming increasingly popular, this network still has some way to go.
  • Time-Sensitive – as ACH transfers are aggregated, some banks will set cut-off times that will need to be adhered to if you wish your transfer to be processed for the next business day. If you miss the cut-off, it could delay the transfer, causing a problem if time is of the essence. Time frames may also vary on weekends (both on a Saturday and Sunday) and holidays.
  • Limited Use – not all brokers, banks or services will accept ACH transfers. For example, Kraken is a Bitcoin and cryptocurrency exchange that does not. If you are looking to use ACH transfers as a way to fund your trading account, make sure you opt for a broker that supports it.

ach transfer over $10 000, 100K rejected

ACH Transfer Vs Other Payment Methods

When it comes to electronic transfers, there are several options available, each with its own merits and limitations. Over the past few years, there have entered several new players in the market bringing more and more to the table. As well as instant execution, in-built messaging capabilities and apps have become the norm. So how do they all compare to ACH?

  • Wire Transfer – a wire transfer is quicker than an ACH transfer but is often more expensive and cannot be recalled.
  • PayPal – not all brokers accept PayPal as a funding method so be sure to check that out. PayPal offers a similar level of security to ACH transfers and is also capped, although at $100,000 for crypto purchases, it affords traders a greater degree of flexibility. Xoom is a PayPal service and so offers similar conditions.
  • Instant Transfer – there are a number of e-banks offering instant transfers, such as Monzo, Plaid and Zelle. Whilst their speed is a bonus, limits will also apply. It also means that you’ll need to create an account with the provider in order to make electronic payments.

Final Word On ACH Transfer

ACH transfers are a straightforward, cheap and reliable way to fund your trading account, pay bills or even purchase a Tesla. With an increasing number of brokers supporting the payment method, traders can enjoy flexibility in addition to security and convenience.

However, there are some drawbacks to bear in mind. The processing time, 1-3 days, is slower than the multitude of instant-execution options available today. Maximum transfer limits may also present an obstacle for traders looking to deposit larger amounts.

Overall, we would recommend ACH transfers as a funding method for any trading account that supports them. Their safety, ease of use and low cost mean that traders can get on with the job in hand. We would advise that any trader considering using ACH transfers reads up on their bank and broker’s policies to avoid any unexpected fees.

Transfer timeframes, limits and fees may vary between banks so much sure you’re familiar with your bank’s policy.


Can I Make An ACH Transfer To Another Person?

Yes. ACH transfers are electronic, bank-to-bank transfers. This includes business and personal accounts, so you can use them to pay someone else. However, if you’re looking for instant execution, you might be better off using a social payment app such as Venmo, Revolut or Monzo.

Can An ACH Transfer Be Reversed?

ACH transfers usually have a window in which they can be recalled if they were made in error. However, this will depend on the individual bank’s policy.

Is An ACH Transfer Safe?

ACH transfers are safe, secure and reliable, just ensure that you opt for a reputable bank and exchange platform. As with any online payment, scams are in circulation, so be careful and avoid sharing your details with third party organisations.

What Does ACH Transfer Stand For?

An ACH transfer stands for Automated Clearing House transfer. Today, ‘ACH’ is used as a general term for these transfers but each country or region, operates its own clearing house. SEPA, for example,z is the European entity.

How Do I Make An ACH Transfer And What Is An ACH Transfer Full Form?

To make a deposit into your trading account via ACH transfer, head to the ‘Funding’ tab in your account portal. If supported, you will be able to select ACH transfer. An ACH authorisation form, or transfer for, authorizes the deposit of withdrawal from a customer’s bank account on the ACH network.

Which Countries Support ACH Transfers?

ACH transfers refer to a type of bulk transfer system used across the world. While this name specifically refers to the US clearinghouse system, it has also become an umbrella term for similar systems in countries across the world, including Jamaica, India, Canada, Hong Kong, the Philippines, Malaysia, Egypt, Ghana, the USA and Singapore.