The Automated Clearing House (ACH) Network is a nationwide batch-oriented electronic payment network to transfer funds between financial institutions. ACH payments provide improved cash management capabilities and lower costs than traditional paper payments by electronically debiting or crediting a company's or individual's deposit accounts, such as checking and savings accounts.

The ACH Process consists of the following steps:

  1. A company or individual (Receiver) authorizes another company or individual (Originator) to initiate a transaction to their financial institution account.
  2. Then the Originator submits the transaction to an Originating Depository Financial Institution, known as an ODFI.
  3. The ODFI collects ACH transactions and then submits the consolidated information to an ACH Operator.
  4. The ACH Operator processes the transactions from the ODFIs and distributes the transactions to the Receiving Depository Financial Institutions, know as an RDFI.
  5. The RDFI receives the entries for its customer accounts and then posts the entries on the settlement date of the transaction.

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