ACH
Financial Dictionary — Banking
Definition
is Automated Clearing House, Between banks.
Detailed Explanation
ACH (Automated Clearing House) is an electronic network used in the U.S. for bank-to-bank transfers such as payroll direct deposits and bill payments.
Common Uses
- Used to explain the concept in accounting and business contexts.
- Used when training staff or documenting procedures and policies.
- Used when training staff or documenting procedures and policies.
Practical Example
- Example: Teams reference **ACH** when defining terms in manuals, policies, or training materials.
Why This Term Matters
- Why it matters: Improves clarity and consistency across documentation and decision-making.