Read our guide on everything you need to know about paying for your transfer by bank debit (ACH) in the US.
In this article, we’ll cover:
- What is bank debit (ACH)?
- Who can use this method?
- Where/who can I send money to using ACH?
- How long does it take to send money using ACH?
- Are there any charges for using ACH?
- How do I set up ACH?
- Can I cancel my ACH transaction?
What is bank debit (ACH)?
When you use bank debit (ACH) to fund your transfer you are authorising a one-time debit from your bank account to ours.
As it can take a few days for your account to be debited, it is important to ensure you have sufficient funds in your account until the debit is made.
Who can use this method?
ACH is available for customers in the United States of America making payment from their checking account. For a full list of payment methods available for your region, please click here.
Where/who can I send money to using ACH?
Customers in the USA can send all available currencies using this method.
How long does it take to send money using ACH?
It takes 3 - 4 business days for ACH debits to clear. Once cleared, we can send the transfer to your recipient.
As it can take a few days for your account to be debited, it is important to ensure you have sufficient funds in your account until the debit is made.
| Please note: If speed is important, we recommend using card payment. |
Are there any charges for using ACH?
While there is no payment method fee for these transfers, they may still be subject to a send fee. You’ll see the exact fee before you confirm your money transfer.
How do I set up ACH?
We recommend using the Xe app to send money using bank debit (ACH).
Paying by ACH on the Xe app or on the website
- Select ACH as your chosen payment method on the 'Send money' page
- When you reach the payment stage you will be presented with information about our ACH partner, Plaid.
- You’ll then be asked to select your bank. A selection of popular banks appears, but if yours isn’t shown then you have the option to search.
- Your screen will start to resemble your online banking app, complete with branding and colour schemes, and you’ll be prompted to Log in.
- Once logged in, you’ll be able to select the account you wish to use and you’ll receive a message saying you’ve been successfully verified.
- You’ll then be returned to an Xe screen which tells you that your accounts are now linked and offers you the chance to give this ACH account a nickname. You can then tick the box to accept our terms and conditions and the process is complete.
Can I cancel my ACH transaction?
Depending on the stage that your transaction is at, it may or may not be possible for you to cancel this transfer and request a refund.
If you’ve not yet confirmed the transaction, you can simply cancel the process yourself by doing the following:
- Simply click the cross icon in the top corner to stop the transfer or close the window or app to cancel the transaction entirely
If you’ve confirmed your transfer, it is unlikely we will be able to cancel your transaction.
We purchase your funds at the time of confirmation and once your debit request has been submitted, it cannot be reversed.
| Important: we submit ACH payments to banks several times a day. We may not be able to cancel a transfer that has been booked and paid for by ACH. |