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| What is ACH? |
The Automated Clearing House (ACH) Network is a nationwide electronic payments system used by more than 20,000 participating financial institutions, over 4 million corporations, and one hundred thirty-five million consumers.
The concept of a nationwide electronic payments network was championed in the late sixties by a group of bankers who recognized the need for an electronic alternative to check payments. In 1974, after the successful development of automated clearing house associations in California, Georgia, New England, and the Upper Midwest, the National Automated Clearing House Association (now known as NACHA - The Electronic Payments Association) was formed as the regulatory body for the ACH Network. In the thirty years since that date, the ACH Network has grown to a national payments system processing over nine billion payments annually.
ACH payments offer a wide range of applications to both consumers and corporations. These include, among others, direct deposit, pre-authorized debits for payment, cash concentration and disbursement, and corporate trade payments. These applications are delivered through a fully electronic ACH system. |
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