Reference meaning
automated clearing house
Last updated
A nationwide electronic funds transfer system that provides for interbank clearing of electronic payments, such as credit-card transactions. An ACH transaction is an electronic fund transfer through the Federal Reserve Bank from a checking or savings account.
Source and scope
This definition is reproduced from English Wiktionary, sense en-automated_clearing_house-en-noun-0PcuO1m0, under the CC BY-SA 4.0. It has not yet received VocabularyBase editorial review. Read the source and license details.