Fast, Secure Global Payments Anywhere

An ACH payment (Automated Clearing House payment) is an electronic transfer of funds processed through the ACH network in the United States. 

The ACH network enables the direct transfer of money between bank accounts and financial institutions without needing paper cheques, wire transfers, or credit cards.

There are two types of ACH payments:

• ACH credit is where the payer initiates the transaction, sending money to the recipient’s bank account (such as direct deposit, government benefits, or refunds).
• ACH debit is where the recipient initiates the transaction by pulling funds from the payer’s account (e.g., recurring bill payments such as utilities, loans, or subscriptions).

The best payment method for global payments will vary depending on factors like:

• Speed
• Transaction size
• Cost
• Currency conversion
• Multi-currency needs
• Regulatory requirements

Some of the most common and effective global payment types include:

Wire Transfers
Wire transfers are a financial vertical that works best for large, high-volume payments. It’s focus is on simplified pricing and creating a good customer experience. 

Global ACH/Local Bank Transfer
These are cross-border payment methods that vary by country. For Europe, it’s the Single Euro Payments Area (SEPA); in the UK, it’s the Bankers’ Automated Clearing System (BACS); and in Canada, it’s an electronic file transfer (EFT).

Digital Wallets like PayPal
This method works best for the small to medium-sized business and freelancer ecosystem. It can also be used in an omnichannel strategy and combined with other payments partners or merchant services. 

Global Payment Solutions like Tipalti
Tipalti is a cloud-based software solution that can handle all of these payment methods in a single platform (just as if you were at a point of sale in person).

Alternative Payment Methods

• Global ACH
• Credit card (like Visa or Mastercard)
• Digital wallets
• Card payments

Transferring money from a local bank to an international bank can be done in several ways. Still, the most common and reliable methods include:

Wire Transfers
This is the most traditional and widely used method for international bank transfers. 

Step #1: Gather Recipient’s Data
You’ll need:

• Recipient’s name
• Recipient’s bank account number (or IBAN in certain countries)
• SWIFT/BIC code 
• Bank name and address

Step #2: Visit Your Bank
Most banks offer international wire transfer services via their in-store branch or online banking portal.

Step #3: Start the Transfer
Fill out the bank form or online transfer request with the recipient’s data, the amount, and the currency. Depending on the country, you may also need to specify the reason for the transfer.

Step #4: Pay the Fees
International wire transfers usually incur a fee, typically $15–$50, plus exchange rate fees.

Step #5: Wait for Payment Processing
Wire transfers take 1–5 business days to process, depending on the banks and countries involved.

International Payment Platforms
These payment services often provide a cheaper, faster alternative to traditional bank transfers.

Step #1: Sign Up for a Payment Provider like Tipalti
Platforms like Tipalti or PayPal are designed for international payments and typically offer better exchange rates.

Step #2: Link Your Bank Account
You must link your local bank account or credit/debit card to fund the transfer.

Step #3: Enter the Recipient’s Bank Data
Provide the recipient’s bank information (such as IBAN or SWIFT code).

Step #4: Choose the Currency 
Before confirming the transaction, most platforms will show you the exact exchange rate and fees.

Step #5: Complete the Transfer
Depending on the payments technology, the recipient may receive the real-time payment within minutes or up to a few days.

Tipalti is a fintech company that conducts “Do Not Pay” blacklist screenings prior to processing payments, utilising integrated fraud detection to prevent fraudsters from concealing their identities. It screens payees against national blacklists such as OFAC, the EU, and HMC to block suspicious individuals.

A money transmitter license (MTL) is a legal requirement for organisations that transmit money domestically or in global markets. 

In the United States, the license is issued at the state level, with requirements varying by state. It ensures that companies handling the transfer of funds comply with anti-money laundering (AML) regulations, consumer protection, and fraud prevention.

Who Needs a Money Transmitter Licence?

• Any company that transfers money on behalf of others
• Payment gateways and POS systems
• Online payment platforms
• Remittance services
• Currency exchange services
• Prepaid card providers 

Money transmission is a highly regulated activity under both federal and state laws. Tipalti is regulated as a Money Services Business (MSB) and has its US MTLs in every state that requires it. 

Tipalti is also licenced as an Electronic Money Institution in the UK and EU. They have spent many years and made significant investments to acquire and maintain our money licences.

Tipalti is a trustworthy partner for money transmission services due to several key factors:

Regulatory Compliance
Tipalti ensures compliance with stringent financial regulations across multiple regions and jurisdictions. 

The brand adheres to anti-money laundering (AML), Know Your Customer (KYC), and sanctions compliance standards, safeguarding against fraud.

Fraud Detection and Risk Management
Tipalti offers advanced fraud detection tools, including “Do Not Pay” blacklist screenings and checks against major national and international blacklists (OFAC, EU, HMC). 

These features help identify and block fraudulent actors, ensuring more secure transactions.

Global Payment Capabilities
Tipalti supports payments in 120+ currencies across 196 countries, providing cross-border flexibility. This makes it ideal for companies with a global supplier or contractor base.

Transparency and Security
Tipalti offers real-time transaction monitoring and comprehensive audit trails. This provides transparency at every step of the payment process. The platform uses multi-factor authentication (MFA) and encryption technologies to ensure data security.

Tipalti’s global payment methods include:

• Wire transfers
• ACH
• Global ACH
• Paper cheques
• Prepaid debit cards
• PayPal

Each payment method has its benefits and drawbacks, and companies should choose a checkout experience that meets their needs for cost and efficiency while prioritising the satisfaction of the recipient. 

The most optimal payment method often depends on a payee’s location, regulations, and expectations.