What's the difference between an ACH transfer and a wire transfer?

A wire transfer doesn't use the ACH network, and most domestic wires are completed within a day, but they come with a fee. An ACH transfer isn't instant, often taking around one to five days to clear, but they're almost always free. If time is of the essence and you need to send money immediately, a wire transfer may be worth the extra cost. But if you're in no rush, an ACH transfer is a cheaper option in nearly all cases.

Are ACH transactions covered by Regulation E?

Yes. ACH transfers are covered by Regulation E — the Federal Reserve's framework that lays out the rights of those who use an entity's electronic fund transfer system or electronic debit cards.

Can ACH transfers be reversed?

Sometimes. Based on the National Automated Clearing House Association rules, a bank can only reverse an ACH transfer under these three circumstances: The wrong dollar amount was transferred. The money was transferred to the wrong account number. Duplicate transfers were sent out by mistake. If your ACH transfer doesn't meet one of these guidelines, you might still be able to initiate a stop payment request with your bank. But this often comes with associated fees.

Do ACH transfers go through on holidays and weekends?

No. ACH transfers are only processed during a bank's business hours, which don't include holidays or weekends

Can Zelle transfers be reversed?

In nearly all cases, no, a Zelle transfer can't be cancelled or reversed. Technically, the only way to "reverse" a Zelle transfer is if you send a transfer to someone who doesn't have Zelle or a way to access it. If the receiver doesn't claim the transfer within two weeks, the money is sent back to the sender. But in the case of sending money to someone who does have Zelle, the transfer is near-instant and can't be reversed.