![]() ![]() The most common direct deposit is the paycheck you receive from your employer, which might be deposited directly into your bank account on a scheduled basis. Direct depositsĪn ACH direct deposit is typically made from a business or governmental agency. There are two common types of ACH transactions: deposits and payments. ![]() The National Automated Clearing House Association (NACHA), the governmental agency that oversees the ACH networkĬhances are that you've sent or received an ACH payment before and didn't even realize it.An institution to receive the request (the receiving depository financial institution or RDFI).An institution to initiate the transaction (the originating depository financial institution or ODFI).But an ACH payment is also dependent on several other key "players," including: This is the primary way that ACH transactions are processed. The ACH network connects all of the banks in the United States. You may hear the terms "EFT payments" and "ACH payments" used interchangeably since both phrases describe the same payment mechanism. This is accomplished using the Automated Clearing House (ACH) network, eliminating the need to make payments using paper checks or credit card networks. What is an ACH payment?Īn ACH payment is an electronic funds transfer (EFT) designed to transfer funds directly between bank accounts. If your business plans to accept ACH payments, we can help you get set up and ready to go with this guide. ACH transactions are often referred to as "direct payments" since they simply transfer funds from one bank account to another.Īccepting ACH payments can expand the number of electronic payments you offer your customers. Automated Clearing House (ACH) payments have become popular payment methods for modern businesses, offering a fast, convenient way to send money. ![]()
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