Noun
automated clearing house (plural automated clearing houses)
(finance) A nationwide electronic funds transfer system that provides for interbank clearing of electronic payments, such as credit-card transactions. An ACH transaction is an electronic fund transfer through the Federal Reserve Bank from a checking or savings account.
Automated Clearing House (ACH) payment volume is on the rise. Source: Internet
Due to banking regulations for ACH (Automated Clearing House) debit transactions, we are required to obtain a signed authorization to change banking information. Source: Internet
The use of cheques to make payment could witness further decline in volume, following the addition of the Automated Clearing House Direct Credit, Near Real Time payment channel. Source: Internet
Rather than waiting one to three days for funds through the Automated Clearing House system, merchants will be able to receive settlement payments straight to their debit cards within minutes through a partnership between Visa and the processor Vantiv. Source: Internet