Many companies and individuals use ACH transfers, and they are great for business-to-business, person-to-person, and many other types of payments. But one thing you should be aware of is that these transfers are not instantaneous.
The ACH stands for automatic clearing house, and it is a method used to complete bank-to-bank transactions. It’s been around since the seventies in the U.S., and using the ACH network can be quite beneficial.
And if you are looking for an ACH payment definition, you’re in the right place. Here, you will learn all about this payment method, how to send or receive ACH payments, how to set up an ACH payment, and everything else you will need to know about this network.
So, what are ACH payments? The ACH stands for Automated Clearing House, and it is an electronic network designed for moving funds between banks in the United States. But the entire idea did not originate in the U.S.