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 ?
A businesses can then ink on to ACH Positive Pay by an easy-to-use, web-based website for a streamlined aspect recognizing the originator, dollar amount, firm description and different pertinent information.
In comments to NACHA and the Federal Reserve, CUNA expressed concerns with the requirements that all receiving financial institutions have the ability to receive and post same-day ACH payments.
Message 3 positions the NACHA Operating Rules: The ACH Network is governed by fair and equitable rules that guide risk management and create certainty for all participants.
Results obtained in the present study indicate that the developing sea urchin embryo possesses a high-affinity choline transporter whose biochemical and pharmacologic properties resemble those found for the transporter present in the mammalian brain, and that this transporter plays a similar role in the trophic functions of ACh.
When you segment these retail customers into two categories, customers without an ACH relationship and customers with an ACH relationship, customers without an ACH relationship represented an annual loss of $45.
There is no paper trail for ACH Debits other than the posting to a monthly bank statement.
Even more objectionable to taxpayers, however, is the ACH debit method which accords the State direct access to the taxpayer's general bank funds.
In receiving the highly coveted award for quality, Debbie Peace, CEO of ACH Alert said, "Our entire ACH Alert team shares in this significant accomplishment and we are grateful to our clients for their forward-thinking vision and for trusting our services to protect their customers.
Clarity has anticipated the needs of lenders wanting to avoid ACH reject fees and the overhead associated with managing returns," said Lyndi Mulder, director of product management at Clarity Services.
When a depositor initiates an ACH debit, it instructs a Treasury Financial Agent (an IRS agent) to withdraw funds from its bank account and route them to the Treasury's account at the Federal Reserve Bank.
org site - was created to help all payments industry participants develop a common understanding of ACH payments, the NACHA Operating Rules, and the value of the ACH Network.
New offerings enable clients to better detect fraudulent ACH and wire activity -