Wire transfer vs Bank transfer (ACH)

[Hayper]

Can someone explain to me what is the difference between both of them,
And what I need for wire transfer

 

[iammoddic]

Wire transfer is faster - usually same day to the receiver if done before like 2pm Eastern Time. They also cost more to do.

ACH is slower - about 3-5 business days. Some banks support same-day ACH, but only the big banks most likely for Chase, BoA, etc. If your bank supports same-day ACH, then the receiver bank also needs to support same-day ACH to get it same day. ACH is generally cheaper to send.