ACH


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ACH

(Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to vendors. The ACH is separate and distinct from the various bank card networks that process credit card transactions. ACH operations are done in a batch mode, which can take up to 72 hours before the money is actually transmitted. A return notification is sent if there are insufficient funds in the account.
References in periodicals archive ?
Same-day ACH credit has been available since September 2016; its use spiked 47% in the fourth quarter of 2017, NACHA added.
Utilizing ACH Processing Services, financial institutions of all sizes can leverage PEP+, the nation's leading ACH processing software, hosted on Fiserv-owned and managed hardware and services.
This solution minimizes disruption to existing ACH operations by integrating with financial institutions' payments infrastructure, which will allow them to be up and running quickly.
At this point, however, a corporate stampede into same-day ACH seems unlikely.
The company's proprietary analytics, Dynamic Account Modeling, are used by FraudMAP ACH to monitor originator and recipient behaviour for anomalies relative to typical behaviour.
Four core messages will be supported when referring to the ACH Network and ACH payments:
We're actively discussing same-day ACH with our banks and feel that our most important partners support change, but others see change as a threat, and that's a concern for us.
Built in partnership with Accuity (formerly TFP, Thomson Financial Publishing), EPN's OFAC solution screens cross-border corporate and retail ACH payments against a centralized OFAC list and identifies suspect transactions.
While the ACH is just now being issued to many soldiers in Operation Enduring Freedom, Spc.
Wash the ACH shell the same way, with cold water and detergent.
ACH Control is flexible, LaSalle says, letting customers choose which prevention features work best for them.