payment options

[jackieb7]

What is the difference between an ACH payment and a Wire Transfer?

[jackieb7]

I requested a withdrawal via wire transfer from one casino- got it no problem

the other casino had only ACH withdrawal option for me.... WHAT IS THE DIFFERENCE????

[ballysdb]

First of all I will be happy to answer your question but it has only been a few minutes since you posted it.

An ACH withdrawal comes straight out of your checking account. A wire transfer is when you wire money into a bank then the casino will take it out.

I think that is correct.

This is a wonderful site full of help and information. Please be a liitle patient when posting a question.

Good luck and welcome!

[jackieb7]

whats the difference when a casino wire transfers money (winnings) into your account? or they wire transfer it?

thanks

[jackieb7]

thank you for answering me so promptly... new at this thing ya know. and now i am calm

[ballysdb]

Don't worry about it! Gambling will do that to you. I know of where i speak!

I have never had a casino wire transfer money to me so I can't answer that. I guess they ask you for your bank routing #. Did they do that?

I am sure someone will reply to this soon who has more info than me.

[jackieb7]

you being from new york... i get a little paranoid when i receive winnings to my bank thinking that they will know where it came from. I hit a lucky streek at Rushmore and Club World have you had any problems?

[ballysdb]

I haven't been able to purchase in a while.

[peteyweestro]

i've gotten wire transfers from online companies before and yes they ask you for your account and routing #,there is also a code every bank has to recieve international wires and you need this # also and the banks name and address and sometimes branch #

[bryand]

What is the difference between an ACH payment and a Wire Transfer?

Automated Clearing House (ACH): A domestic electronic funds transfer system. The National Automated Clearing House (NACHA) is responsible for maintaining and policing the electronic payments network.

Electronic Funds Transfer (EFT): The movement of funds from one bank account directly into another without the use of cash or paper checks. ACH and wire transfers are two methods of EFT’s.

Wire Transfer: A same day transfer of funds between financial institutions processed through the Federal Reserve’s Fedline system. International wires may be processed through the Society for Worldwide Interbank Financial Telecommuications (S.W.I.F.T.).

credit: http://www.virginia.edu/finance/revc...e_general.html