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Wire Transfers/ACH Push

By Andrew Lawandus - Mar. 30, 2022

By Andrew Lawandus

Mar. 30, 2022

The best way to keep your Slash account funded is by setting up recurring external transfers. This takes all the guesswork out of making sure you have enough money for the next drop, and keeps all of your incoming and outgoing business transactions in one place.

StockX Payout

For most users, we recommend setting up your payouts and direct deposits from marketplaces to your Slash account. You can do this using your Slash account details as the destination for your payouts.

In addition, you may also want to set up recurring ACH Pushes from your bank account to Slash.

An ACH Push is the transfer of funds between financial institutions via an electronic network. This transfer type is generally used for:

  • Direct deposit of payouts
  • Recurring debits/auto-billing
  • One-time bill paying
  • P2P payments
  • B2B payments

This is helpful if you do a lot of cash transactions and deposit the cash into your bank account. These transfers can easily be set up from within your bank account, can be either one-time or recurring, and are generally completed within 1-2 business days. Most banks don’t charge for these transfers, but some will charge a small fee (i.e. $3).

ACH Push Example

Alternatively, if you need to transfer a large amount of money quickly, the best way is generally via Wire Transfer.

A Wire Transfer is the transfer of funds directly from one account to another. This transfer type is generally used for:

  • Transfers that need to be completed urgently
  • Moving large amounts of money

Although this is generally quicker than an ACH Push, you also end up paying more for the speed of the transfer (generally ~$15-$30).

Wire Example

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