[Falcorian]

False. Every time you transfer money from an account at one bank to another you're using ACH. Same with moving funds from banks to stock brokers or brokers to banks.

The real reason it doesn't compete is its slow, and many banks have terms of service that say something like "You can only set it up between accounts you own" so sending to other people is often technically a violation of your agreement with a bank.

[BenjiWiebe]

Some banks don't have a way for a customer to initiate an ACH, unless maybe calling them. Nothing in their app or website for it.