ACH Payments
ACH payments are electronic payments that are processed through the Automated Clearing House (ACH) network. ACH payments are a convenient and efficient way to transfer money between bank accounts, and they are often used for recurring payments, such as for utility bills or mortgage payments. Continue Reading Below
Encyclopedia Articles
Discover the definition of financial terms related to ach payments.
Learn About ACH Payments
About ACH Payments
ACH payments are electronic payments that are processed through the Automated Clearing House (ACH) network. ACH payments are a convenient and efficient way to transfer money between bank accounts, and they are often used for recurring payments, such as for utility bills or mortgage payments.
To make an ACH payment, the sender provides their bank account information and the recipient's bank account information to the ACH operator. The ACH operator then initiates the transfer of funds from the sender's account to the recipient's account.
ACH payments are typically less expensive and faster than traditional payment methods, such as checks or wire transfers. They are also more secure, as they use advanced technology and encryption to protect the confidentiality and integrity of the transaction.
Overall, ACH payments are a convenient and efficient way to transfer money between bank accounts. They are often used for recurring payments and offer significant benefits, including lower costs, faster processing times, and enhanced security.
