How to ACH Transfer to TransferWise Borderless Account: Step-by-Step Guide

Sending money across borders used to be a hassle, but services like Wise (formerly TransferWise) have made it simpler and more affordable. If you’ve got a Wise Borderless account, you already know how convenient it is for managing multiple currencies. But when it comes to funding your account through an ACH transfer, things can feel a bit tricky if you’re not familiar with the process.

I’ve been there—trying to figure out the best way to move money without unnecessary fees or delays. Setting up an ACH transfer to your Wise account is easier than you might think once you know the steps. In this guide, I’ll walk you through the process so you can transfer funds smoothly and get back to focusing on what matters most.

Understanding ACH Transfers

ACH transfers are electronic payments processed through the Automated Clearing House network. These transfers are commonly used for moving funds between banks in the US.

What Is An ACH Transfer?

An ACH transfer moves money electronically between accounts at different banks using the ACH network. This system is managed by NACHA (National Automated Clearing House Association), which ensures standardized and secure transactions. ACH transfers include two types: direct payments (e.g., bill payments) and direct deposits (e.g., payroll). Processing can take 1-3 business days based on the type of transfer.

Advantages Of Using ACH Transfers

ACH transfers offer several benefits for domestic transactions.

• Low Cost: ACH fees are typically lower than wire transfers, making them cost-effective.
• Convenience: Transactions are fully digital, eliminating the need for paper checks.
• Security: The ACH network has strict compliance protocols to protect users’ data.
• Automation: Recurring payments can be easily set up for consistent transfers.

These features make ACH transfers a reliable option for funding a Wise Borderless account.

Introduction To TransferWise Borderless Account

The TransferWise Borderless account, now rebranded as the Wise account, simplifies international banking by allowing users to hold and manage balances in multiple currencies. It provides an efficient solution for personal and business finances across borders.

Key Features Of The Borderless Account

• Multi-Currency Balances: The account supports over 50 currencies, enabling currency management without multiple local bank accounts. For example, users can hold USD, EUR, GBP, and AUD in one account.
• Local Bank Details: It provides local account details, such as US routing and account numbers or UK sort codes, in select currencies, easing the receipt of payments.
• Convenient Currency Conversion: Currency conversions occur at mid-market rates, typically lower than those of banks, with transparent fees.
• Global Accessibility: The account allows users to send, receive, and spend money globally using the linked debit card.
• Seamless Integration: It works with invoicing tools, payment gateways, and accounting software for businesses operating internationally.

Benefits Of Using TransferWise

• Low Costs: The account eliminates hidden fees with transparent pricing for transfers and currency conversion.
• Flexibility: Users gain the ability to hold and transact in multiple currencies without managing separate accounts.
• Speed: Transfers and conversions occur quickly in comparison to traditional banking methods.
• Security: It ensures funds are safeguarded with encryption and regulatory compliance.
• Ease Of Use: The platform’s user-friendly interface simplifies transactions on both desktop and mobile apps.

Step-By-Step Guide To ACH Transfer To TransferWise Borderless Account

Transferring money to a Wise Borderless account using ACH is straightforward with the right steps in place. Below, I’ll explain each process step, from setup to troubleshooting.

Setting Up Your TransferWise Borderless Account

Open your Wise account by visiting wise.com. Select the “Register” option and provide your email, create a password, and choose an account type (personal or business). Complete the verification by uploading a government-issued ID and any required documents based on your location. Once verified, navigate to the Borderless account section to enable features like multi-currency balances and local bank details.

Linking Your Bank Account For ACH Transfers

Log into your Wise account and access the “Add Funds” section. Choose the option to link a bank account via ACH transfer. Enter your bank account details, including the routing and account numbers, and verify ownership through Wise’s security validation. Verification methods typically include small test deposits, which need confirmation in 1-2 business days.

Initiating An ACH Transfer

Once your bank account is linked, access the “Add Money” section in your Wise account. Enter the desired amount and ensure the currency matches your Borderless account balance. Select “ACH transfer” as the funding method and confirm the transaction details. Your bank processes ACH transfers within 3-5 business days, with the funds appearing in your Wise balance after processing.

Common Issues And How To Resolve Them

• Incorrect Bank Details: Double-check routing and account numbers during setup. Updating these details might require identity re-verification.
• Delayed Transfers: ACH transfers can take longer if initiated during weekends or bank holidays. Start transfers on business days for faster processing.
• Failed Verifications: If test deposits fail, ensure your bank account supports ACH transfers and retry linking.
• Currency Mismatch: Confirm that your Wise and bank balances are in compatible currencies to avoid conversion errors.

Best Practices For ACH Transfers To TransferWise

Streamlining ACH transfers to a Wise Borderless account can prevent errors and delays. Adopting specific strategies ensures smooth transactions.

Ensuring Correct Account Details

Verifying the bank information is critical for an ACH transfer. Use the exact account name, routing number, and account number provided by Wise. These details differ from traditional bank accounts and must match the currency and region of the transfer. For example, US-based transfers require Wise’s assigned ACH routing number rather than wire transfer details. Double-check details before initiating any transaction to avoid processing errors.

Monitoring Transfer Timelines

Tracking the expected duration of ACH transactions ensures proper planning. Standard ACH transfers to Wise generally take 1-3 business days depending on the bank’s cut-off times and processing speeds. If delays occur outside these timeframes, I check for issues like non-business day processing or manual bank review holds. Using Wise’s notifications and bank statements helps confirm successful receipt of funds.

Conclusion

Using ACH transfers to fund a Wise Borderless account is a practical and cost-effective way to manage your international finances. By following the steps outlined and paying close attention to details like account information and transfer timelines, you can ensure a smooth and hassle-free experience. Wise offers a powerful solution for handling multiple currencies with transparency and ease, making it an excellent choice for both personal and business needs. With proper preparation, you can take full advantage of its features and enjoy seamless global transactions.

Frequently Asked Questions

What is Wise (formerly TransferWise), and why should I use it?

Wise is a platform for sending money internationally at low costs. It lets you manage multiple currencies through a Wise Borderless account, offering mid-market currency exchange rates, transparent fees, and global accessibility.

What is a Wise Borderless account?

A Wise Borderless account allows you to hold and manage over 50 currencies. It provides local bank account details for receiving payments and a linked debit card for global spending.

How does an ACH transfer work?

An ACH transfer moves funds electronically between US bank accounts via the Automated Clearing House network. It’s commonly used for payments and deposits.

Can I use ACH transfers to fund my Wise account?

Yes, you can fund your Wise Borderless account through ACH transfers. You’ll need to link your US bank account and initiate a transfer.

What are the main benefits of using ACH transfers?

ACH transfers are low-cost, secure, and convenient. They allow for automated payments and typically take 1-3 business days to process.

What details are required for ACH transfers to a Wise account?

You’ll need the exact account name, routing number, and account number provided by Wise. Enter these carefully to avoid errors or delays.

How long does an ACH transfer to Wise take?

ACH transfers usually take 1-3 business days. Delays may occur on weekends, holidays, or due to additional bank reviews.

What should I do if my ACH transfer is delayed or fails?

Check for incorrect bank details or pending verifications in your Wise account. Ensure sufficient funds in your bank account and contact Wise support if issues persist.

Are there fees for depositing into Wise via ACH?

Wise charges minimal fees for currency conversion, while most US banks don’t charge for ACH transfers. Check with your bank for any applicable fees.

How can I confirm that my funds reached my Wise account?

You can track the transfer in your Wise account or app. Use notifications or check your bank statement to confirm successful receipt of funds.