June 17, 2012

Dwolla FiSync, An ACH Alternative

If you have been using ACH to transfer cash, you’ll love Dwolla FiSync a new alternative to ACH with real-time cash transfers between bank accounts.

FiSync’s main benefit over ACH – cash is moved between the senders and receivers accounts in real-time - there is no waiting of 2 to 5 days for the funds to become available in the receivers account.

And, the low Dwolla fees make it feasible for large or small cash transfers.

Dwolla FiSync provides an API to transfer cash between bank accounts in real-time. It will be used by financial institutions and financial service providers.

FiSync is free for banks and credit unions. Currently, the list of FiSync providers includes Veridian.

Dwolla FiSync Alternatives
Other alternatives to transferring cash include SWIFT wire transfers, which due to its high fees is useful only for larger cash transfers.

Tags: dwolla fisync, ach alternative, real-time cash transfers, real-time money transfers, real-time bank transfers, automated clearing house alternative, list of fisync providers