Automated clearing house: Difference between revisions

An '''automated clearing house''' ('''ACH''') is a computer-based electronic network for processing transactions,<ref name=RGTechIndia>{{cite web | author=Dr. B.S. Sawant |title=Technological Developments in Indian Banking Sector |url=https://www.researchgate.net/publication/261009679 |website=www.researchgate.net| access-date=20 November 2018}}</ref> usually domestic low value payments, between participating [[financial institution]]s. It may support both [[Wire transfer |credit transfer]]s and [[direct debit]]s.<ref name=ECBPMglossary>{{cite web |author=European Central Bank |title=Payments and markets glossary |url=https://www.bankingsupervision.europa.eu/home/glossary/html/act7a.en.html |website=www.bankingsupervision.europa.eu |access-date=19 November 2018}}</ref><ref name=ECBPCSglossary>{{cite web |author=European Central Bank|title=Glossary of Terms Related to Payment, Clearing and Settlement Systems |url=https://www.ecb.europa.eu/pub/pdf/other/glossaryrelatedtopaymentclearingandsettlementsystemsen.pdf |website=www.ecb.europa.eu |access-date=19 November 2018}}</ref> The ACH system is designed to process batches of payments containing numerous transactions, and it charges fees low enough to encourage its use for low -value payments.