The Automated Clearing House (ACH) is, unfortunately, not a wonderful house capable of maintaining its own level of cleanliness, but it is still important to understand, so continue reading below.
The ACH is a network for processing financial transactions in the United States. Founded in the 1970s, it is run through the National Automated Clearing House Association (or NACHA) system.
NACHA handles various transactions, including:
- Payroll/Direct Deposit
- Transactions from businesses or consumers
The ACH also deals in credit transfers for mortgage loans, insurance premiums, credit card monthly statements, utility payments, and monthly payments on merchandise.
Alright, time for the test:
- Who founded the ACH?
- Name three benefits of the ACH in a business environment.
- Name three benefits of the ACH in a personal or consumer environment.
- When was the ACH founded?
- How many words are in this article?
If you got all answers correct, you can go ahead and M.S. Paint yourself an ACH certificate.