Automated clearing house system

From ACT Wiki
Revision as of 16:32, 10 February 2017 by Doug Williamson (Talk | contribs) (Note that ACH payments are direct bank-to-bank transactions.)

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search


A domestic electronic clearing system in which payment orders are exchanged among financial institutions, primarily via magnetic media or telecommunication networks, and handled by a data-processing centre.

ACH payments are direct bank-to-bank transactions.

See also