What is the difference between an ACH transfer and a SWIFT transfer? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is the difference between an ACH transfer and a SWIFT transfer?

Asked by Banky team 2 months ago 1 views
Banky team Reviewed editorial answer

The ACH system (Automated Clearing House) is used for local transfers in Egyptian pounds between banks inside Egypt, and the transaction usually takes a few hours or is completed within the same business day. The SWIFT system, on the other hand, is used mainly for international transfers between banks around the world in all currencies, and takes from one to 3 business days.

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