What is the Automated Clearing House?
The Automated Clearing House has several layers. One is direct deposit. This can be your paycheck that is directly deposited into your specified bank account. Two is online payments. This is when you make payments online for your bills. An example is you go to your electric companies website, enter your information for payment, then submit. You then receive a confirmation number for your payment made.
The acronym for Automated Clearing House is ACH.« Back to Glossary Index