What's the difference between ACH and wire routing numbers?
Some banks use one routing number for ACH and another for wires. Put both on your invoice, labeled, exactly as your provider gives them. A payment sent with the wrong one is usually rejected or returned, which costs days.
From How to get a USD account as a non-US company, by Pavel Skalin. Updated .
The wider picture
The key points from the guide this answer comes from:
- You don't need a US entity to receive, hold and send dollars, but you need the right details for the rail your customers use.
- ACH and Fedwire need a US account number and routing number; SWIFT needs a SWIFT code and an account number or IBAN. They aren't interchangeable.
- Some banks use different routing numbers for ACH and wires, so put both on your invoice, labeled.
- A US customer paying a SWIFT USD account outside the US sends an international wire, which costs more and can arrive short. For regular US customers, US account details work better.
More questions on this
- Can I get a US bank account without forming a US company?
- Can US customers pay a SWIFT USD account outside the US?
- Do I need an EIN to receive dollars?
The full guide
You don't need a US entity to receive, hold and send dollars. You do need to know which rail your counterparties will use, because ACH, Fedwire and SWIFT details are not interchangeable.
Read How to get a USD account as a non-US company, with its sources.
General information, not legal, tax or financial advice. Rules and providers' terms change; check the sources in the guide and take advice on your own situation.
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