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automated clearing house (ACH)

An Automated Clearing House

(ACH) is a gateway network used by financial service providers for wire transfers, remittance advices, cash disbursements and direct debits. An Automated Clearing House (ACH)

is anElectronic Funds Transfer (EFT) used to transmit electronic transactions

between financial agencies and to make payments to specified accounts at the corresponding financial institutions. Automated Clearing Houses use batch processing, where transfersare

processed sequentially in the order in which orders are received.

Automated Clearing House (ACH) orders are placed by national financial institutions and executed by clearinghouses.

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Englisch: automated clearing house - ACH
Updated at: 09.09.2020
#Words: 76
Translations: DE