(Automated Clearing House) The ACH Network is a highly reliable and efficient nationwide batch-oriented electronic funds transfer system governed by the NACHA OPERATING RULES which provide for the interbank clearing of electronic payments for participating depository financial institutions. ACH payments include:
• Direct Deposit of payroll, Social Security and other government benefits, and tax refunds;
• Direct Payment of consumer bills such as mortgages, loans, utility bills and insurance premiums;
• Business-to-business payments;
• E-commerce payments;
• Federal, state and local tax payments.