ACH

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Related to Automated Clearing House: ODFI, NACHA

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 ?
There is a pressing need for an automated clearing house ( ACH) by redesigning the existing ECS.
Automated clearing house Currently, the local ECS for bulk electronic transactions is operational at 76 centres.
A new spam campaign is targeting a financial transfer system that handles trillions of dollars in transactions annually and has proved to be a fertile target of late for online fraudsters.<p>The spam messages pretend to come from the National Automated Clearing House Association (NACHA), a U.S.
Haemer of Clinton has been named automated clearing house coordinator.
The new BOC ruling by the National Automated Clearing House Association, effective as of March 2007, allows businesses to collect a check written at the checkout counter and convert it to an ACH transaction in the back office and then deposit that transaction electronically.
CheckFree Corporation (NASDAQ:CKFR), Atlanta, has announced that Zions Bancorporation (NASDAQ:ZION has selected the CheckFree(R) PEP+ Platinum package as their choice for origination and receipt of electronic payments through the Automated Clearing House (ACH).
Coulson served on the Representative Board of the National Automated Clearing House Association Electronic Benefit Services Council.
Its software enables organisations to validate consumer and corporate bank sort code and account details, allowing them to be submitted securely to the UK's automated clearing house.
Metropolitan said it is the only bank in Arkansas that offers Directo a Mexico, a program offered by the Federal Reserve allowing commercial banks to make inexpensive money transfers through the Fed's own Automated Clearing House with Banco de Mexico.
Premiere Global Services, Inc., a global outsource provider of business process solutions, recently announced an upgrade to its Collections Accelerator solution that provides a convenient, automated method of payment capture for Automated Clearing House (ACH)/debit card users.
This in-depth report explores how new POS, biometrics-based and Automated Clearing House (ACH)-based payments, self-service kiosks and enterprise loss prevention efforts are changing the face of the front-end across the supermarket industry.
While satisfaction with card-based payments has increased to 77 percent from 70 percent last year, their preference for other electronic payment options such as automated clearing house (ACH) payments appears to be declining.

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