Automated Clearing House


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Related to Automated Clearing House: ODFI, NACHA

Automated Clearing House (ACH)

A collection of 32 regional electronic interbank networks used to process transactions electronically with a guaranteed one-day bank collection float.

Automated Clearing House

An electronic funds transfer system allowing for the instantaneous transfer of money between users for payroll deductions, tax refunds, direct deposits, and more transactions. It is run by the National Automated Clearing House Association.
References in periodicals archive ?
ECP transactions are settled through the Automated Clearing House (ACH) network.
Eligibility for the new deposit deadlines and fees will be limited to operators as defined by the rules of the National Automated Clearing House Association.
bank to use a cross-border automated clearing house service to collect payments in Canada for deposit in U.S.
In fact, many States require electronic funds transfer (using the Automated Clearing House banking system) as soon as a company's periodic tax liability reaches some minimal threshold.
The platform integrates with enterprise resource planning or accounting systems and supports check, automated clearing house, and card payments.
The State Controller%s Office (SCO) is seeking a qualified and experienced financial institution to act as the Originating Depository Financial Institution (ODFI) to distribute payments through a direct deposit program to receiving depository financial institutions for SCO.SCO willinitiate credit entries with the Contractor, which the Contractorwillsend through the Automated Clearing House (ACH) network, operated pursuant to the National Automated Clearing House Association (NACHA) Rules.The Contractorwill be the ODFI for SCO to distribute payments through a direct deposit program to the Receiving Depository Financial Institution (RDFI).
Latest data from the BSP showed the number of InstaPay participants that allow real-time electronic fund transfers worth P50,000 and below has more than doubled to 47 from only 20 since the automated clearing house was launched in April last year.
The method replaces paper cheques or the Automated Clearing House (ACH) network.
Dubbed InstaPay, the automated clearing house is part of the National Retail Payment System of the Bangko Sentral ng Pilipinas (BSP), and follows a similar system called PesoNet that was launched last year.
With a client-first mentality, Meritus provides International Payment Solutions that include mobile, credit and debit cards, gift and loyalty cards, fraud management, Automated Clearing House (ACH) and more.
The electronic payment company E-Finance has entered into negotiations with Blom Bank Egypt, Credit Agricole Egypt, The Arab Bank, the National Societe Generale Bank (NSGB), the Arab Banking Corporation (ABC) and the Commercial International Bank (CIB) to provide them with Automated Clearing House (ACH) services.
The Money-Network-enabled Discover Campus Card helps protect students from excessive fees and eliminates the need to wait in long lines to receive paper checks or for an automated clearing house (ACH) transaction to clear in their bank accounts.

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