Why are there 2 routing numbers? What is the Account Type used for?

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Written by Palak
Updated 2 months ago

Each routing number provided is specific to the payment method used by the person or business making a payment to you. 

If the payment method being used is wire, then the wire routing number should be used. Wire is typically used for large value payments (e.g., proceeds from a property sale). Funds paid via wire typically will be received the same day into your local currency account and appear in your Currencies Direct USD wallet. 

If the payment method being used is ACH, then the ACH routing number should be used. ACH is used for a variety of ‘direct deposit’ payments, including tax refunds paid by federal and state tax entities. Funds paid via ACH typically will be received within 2–3 business days into your local currency account and appear in your Currencies Direct USD wallet.

The account type is needed by any entity making a payment via ACH to your local currency account.

Please note that USD local currency accounts are currently only available for selected US accounts.
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