Results for: What_is_an_ACH_network

What is ACH processing used for?

ACH stands for Automated Clearing House and is the network for all financial payments and transactions in the US, excluding credit card payments. It is governed by the Federal Reserve and the National Automated Clearing House Association.

How do ACH transfer payments work?

ACH stands for Automated Clearing House, It is a network of computers linked between banks and financial institutions,. An ACH payment transpires when one entity such as a retailer, known as the "originator" makes an electronic request to a financial… Full Answer

What are the basic banking ACH rules?

There are several basic banking ACH rules. ACH is Automated Clearing House. One rule with ACH is that no financial company can make a transaction without the owner knowing that it is happening.

How is an electronic check processed?

Electronic checks are processed through the ACH network by the Federal Reserve Bank. The company who is scanning the paper check scans it though a machine which will basically capture a picture of the check. It is now stored digitally… Full Answer