That sounds right.

IME, though, the whole authorization system I've had to use with SEPA and IBANs feels more secure, and I've had no misgivings about using it to transfer or receive money.

By comparison, using ACH to transfer funds between accounts is usually bidirectional in bank apps, so if you give me your account info so I can send you money, I can also use that same info to withdraw money.

That means I'd never send you my routing and account number even if the original purpose is for you to send me money.