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Ach

• Is the Automated Clearing House.

 
 Embedded terms in definition
 Automated clearing house
Clearing
 
 Referenced Terms
 Automated clearing house: Abbreviated Ach. A collection of 32 regional electronic interbank networks used to process transactions electronically with a guaranteed one-day bank collection float.

 Pax: Is the Private Ach Exchange.

 Preauthorized electronic debits: Abbreviated PADs. Debits to its bank account in advance by the payer. The payer's bank sends payment to the payee's bank through the Ach Automated Clearing House (ACH) system.

 
 Related Terms
 Ach automated clearinghouse credits
Ach automated clearinghouse debits

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