SWIFT vs ACH: which should I use for payments as a foreign LLC owner?
I keep seeing ACH and SWIFT mentioned when talking about U.S. banking. I understand SWIFT is for international transfers and ACH is domestic, but I'm confused about when to use which.
If I receive a payment from a U.S. client, is that ACH or wire? When I pay a U.S. contractor, should I use ACH? And when sending money to myself overseas, do I have to use SWIFT or are there other options?
I just want a clear explanation of these payment types and which ones my foreign LLC should use in different situations.
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