Wire Transfer Vs Direct Deposit. Depending on the amount of the payment a wire transfer may be a cheaper option. A wire transfer request form will be available from any pnc bank department so you can provoke the method of sending cash to friends and family.
Direct deposit with higher fees on both sides of the financial. Direct deposit differences that still exist today. Wire transfers on the other hand have costs associated with them.
Ach is the technology that allows you to make and receive direct deposits and pay bills online.
It works via direct bank to bank transfers on the automated clearing house network. However the differences between an ach payment and a wire transfer dont stop with speed so lets dig deeper into what makes an ach payment different from a wire transfer. As such the situations where youll be using these types of transfer methods may differ substantially. While wire transfers are generally initiated in person direct deposits occur online and even from a mobile device providing ease of use.