Anonymous
Anonymous asked in Business & FinanceInvesting · 1 decade ago

What does "ACH" means in referring to bank terms?

I just was wondering what "ACH" stands for when financial institutions use it? I know when I log on to my online banking I see the letters "ACH". I was just curious.

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  • 1 decade ago
    Favorite Answer

    ACH, Automated Clearing House, refers to the government's system that supports electronic transfers. EFT, Electronic Funds Transfer, refers to the process in which funds are sent through this clearinghouse system. Using either term is appropriate when referring to direct deposits and automatic payments debited from checking and savings accounts.

    • Linda5 years agoReport

      do we send the company a voided check?

  • soule
    Lv 4
    3 years ago

    What Does Ach Stand For

  • Anonymous
    6 years ago

    The reliability of the service is measured by determine how quick and efficient the payment processing service is for accepting checks. If the system allows for checks to be lost or damaged, the service cannot be reliable for vendors.

    Payment security is an important aspect of payment processing. What methods of verification do the payment processors require for accepting checks? What steps does the vendor take in verifying the authenticity of the checks being accepted?

    Automation is measured in the ease of use and the lack of hands-on for check processing that is utilized by the customer. Does each check have to be scanned in or otherwise copied, or are there automated processes that lesson the work for the customer?

    The volume of transactions which can be handled from a single vendor is also evaluated. Can the payment processor handle thousands of transactions a day, or are there limitations that may slow down or halt the payment process?

    With check processing services, we also evaluate the delay in service that is found. By measuring the amount of time it takes to process the check and for money to reach the vendor, we are able to accurately measure the delay in service.

  • 1 decade ago

    Automated Clearing House.

    It's just a fancy term for an electronic debit/credit.

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  • jon b
    Lv 4
    1 decade ago

    ACH = automated clearinghouse.

    It's basically the network structure that allows for electronic transfers between bank accounts.

  • Anonymous
    4 years ago

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    RE:

    What does "ACH" means in referring to bank terms?

    I just was wondering what "ACH" stands for when financial institutions use it? I know when I log on to my online banking I see the letters "ACH". I was just curious.

    Source(s): quot ach quot means referring bank terms: https://shortly.im/pm4eK
  • moglie
    Lv 5
    1 decade ago

    automated clearing house

  • 3 years ago

    Really not sure about this one

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