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Is This an ACH Transaction?

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Do ACH transactions include wire transfers and EFTs?

EFT is a generic acronym standing for Electronic Fund Transfer. In its generic form it includes ACH and wire transfers.

However, Regulation E limits its definition of covered EFTs to consumer account transactions, and further limits it by excluding wire transfers. It includes most ACH items posting to consumer accounts. A notable exception is the RCK transaction, which starts its life as a paper check.

So, some ACH transactions are EFTs; some EFTs are ACH transactions. But wire transfers are neither ACH nor EFT transactions from a regulatory perspective.

First published on 05/17/04

First published on 05/17/2004

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