TIL the difference between ACH and wire transfers the hard way when my rent was late

I sent my rent via ACH on a Friday thinking it would hit by Monday. Landlord called me Tuesday saying it wasn't there. Turns out ACH takes 2-3 business days with my credit union in Austin. Wire transfer would have cleared same day but costs $25. Now I always ask what method they expect before sending anything over $500. Has anyone else gotten burned by assuming ACH is instant?

2 comments

2 Comments

morgan3161mo ago

A whole day late isn't really that big of a deal.

beth_hart681mo ago

Three days late to my rent is when I start charging a $50 late fee, so ONE day is nothing.