Automated Clearing Houses
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Summary #
- The Automated Clearing House (ACH) is the
primary system that agencies use for electronic funds transfer (EFT). - With ACH,
funds are electronically deposited in financial institutions, and payments are made online.
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An automated clearing house (ACH) is a computer-based electronic network for processing transactions ,[1] usually domestic low value payments, between participating financial institutions. It may support both credit transfers and direct debits.[2][3] The ACH system is designed to process batches of payments containing numerous transactions, and it charges fees low enough to encourage its use for low value payments.
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