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Ach automated clearinghouse debits

• Preauthorized electronic withdrawal from the payer's account and deposit into the payee's account via a settlement among banks by the automated clearinghouse.

 
 Embedded terms in definition
 Clearinghouse
Settlement
 
 Related Terms
 Ach
Ach automated clearinghouse credits
Automated clearing house
Clearing house automated payment system
Clearing house or clearinghouse
Clearinghouse
National association of securities dealers automated quotation system
Preauthorized electronic debits

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