What is the difference between ACH and wire transfers?

There are several differences between wire transfers (using Fedwire) and ACH transfers. Knowing these differences will help you to identify whether you are sending a wire transfer or an ACH transfer.

You can make a Plaid ACH purchase using the Buy Crypto widget on the website and Kraken app.

What are wire transfers?

How do I send a wire with my bank?

What are ACH transfers?

Wire transfers vs. ACH transfers

There are a couple important factors to consider when choosing between wire transfers and ACH transfers via Plaid:

	Fedwire	ACH (Via Plaid)
Cost to send (what your bank charges)	$25-30	usually free ($3-10 to expedite)
Deposit fee (what we charge)	$0-5	Free
Speed	same day*	next or X-business day not supported
Tracking Reference	IMAD/OMAD	15-digit Trace ID (TRN)

*This does not mean that your funds will always be credited to your Kraken account on the same day. Our funding providers may need to perform additional due diligence which can delay the settlement of your funds.

If your deposit fails because it was sent as ACH instead of Fedwire, the funds may take up to 10 business to return to your bank account.

Consult your bank to ensure you are sending a wire if you notice the following traits:

•
The transfer is not specified as a "same day".
•
The transfer does not cost $25-$30.
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You can schedule recurring payments or payment periods.
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Your bank requires sending 2 micro-deposits (deposits below a dollar) to verify the account details by having you confirm the transaction amounts.

What are wire transfers?

How do I send a wire with my bank?

What are ACH transfers?

Wire transfers vs. ACH transfers

Fedwire

ACH (Via Plaid)

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