Automated clearing house system

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Revision as of 16:32, 10 February 2017 by imported>Doug Williamson (Note that ACH payments are direct bank-to-bank transactions.)
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(ACH).

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