ACH Payment Definition
Stands for Automated Clearing House, a nationwide network which allows financial institutions to transfer funds between accounts.
Automated Clearing House, or ACH, is an electronic funds transfer system run by the National Automated Clearing House Association. The payment services covered by this system include payroll, consumer bills, tax payments, tax refunds, direct deposits and many more. ACH has increased the convenience and efficiency of business as well as government financial transactions.