automated clearinghouse

automated clearinghouse ( ACH)
The ACH network is a nationwide electronic funds transfer system for participating depository financial institutions. The American Clearing House Association, Electronic Payments Network, Federal Reserve and Visa act as ACH Operators, central clearing facilities through which financial institutions transmit or receive ACH debits and credits. The ACH network serves 20,000 financial institutions, 3 million businesses, and 100 million individuals. The ACH Network is commonly used for direct deposit of payroll and government benefits such as Social Security, direct payment of consumer bills, business-to-business payments, federal tax payments, and, increasingly, e-commerce payments. In 2000 there were 6.9 billion ACH payments made worth more than $20 trillion. American Banker Glossary

Financial and business terms. 2012.

Look at other dictionaries:

  • Automated Clearinghouse — …   Useful english dictionary

  • National Automated Clearinghouse Association - NACHA — A non profit membership association charged with overseeing the Automated Clearing House (ACH) system, which operates the largest electronic payment network in the world. Most of NACHA s 10,000+ members are depositary institutions and regional… …   Investment dictionary

  • Automated Clearing House — (ACH) is the name of an electronic network for financial transactions in the United States. ACH processes large volumes of both credit and debit transactions which are originated in batches. Rules and regulations governing the ACH network are… …   Wikipedia

  • clearinghouse — /klear ing hows /, n., pl. clearinghouses / how ziz/. 1. a place or institution where mutual claims and accounts are settled, as between banks. 2. a central institution or agency for the collection, maintenance, and distribution of materials,… …   Universalium

  • ACH — automated clearinghouse. * * * …   Universalium

  • ACH — automated clearinghouse …   Useful english dictionary

  • ACH — automated clearinghouse (ACH) The ACH network is a nationwide electronic funds transfer system for participating depository financial institutions. The American Clearing House Association, Electronic Payments Network, Federal Reserve and Visa act …   Financial and business terms

  • АВТОМАТИЗИРОВАННАЯ КЛИРИНГОВАЯ ПАЛАТА — AUTOMATED CLEARINGHOUSE ACHАвтоматизированная клиринговая палата (АКП) обрабатывает и осуществляет электронные дебетовые и кредитовые платежи между кредитными институтами членами. Электронные дебетовые платежи включают заранее установленные… …   Энциклопедия банковского дела и финансов

  • ПЛАТЕЖНЫЙ МЕХАНИЗМ — PAYMENTS MECHANISMСистемы, предназначенные для осуществления платежей и перевода денег в масштабе всей страны. Основную роль в общенациональной системе платежей играет ФРС посредством распространения денег и разменной монеты, обработки чеков,… …   Энциклопедия банковского дела и финансов

  • money — moneyless, adj. /mun ee/, n., pl. moneys, monies, adj. n. 1. any circulating medium of exchange, including coins, paper money, and demand deposits. 2. See paper money. 3. gold, silver, or other metal in pieces of convenient form stamped by public …   Universalium

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