Definition

ACH transfers move money electronically between U.S. bank accounts and power direct deposit, automatic bill pay, and transfers between your own accounts. They are usually free but can take one to a few business days to settle, unlike instant wire transfers. Setting up automatic ACH transfers is the simplest way to automate saving and investing.

1. Direct Deposit

   Automatic electronic payment of wages or benefits straight into your bank account.
2. Brokerage Account

   A taxable account for buying and selling investments like stocks and funds.
3. High-Yield Savings Account (HYSA)

   A savings account that pays much higher interest than a typical bank account.