automated clearing house

Automated Clearing House (ACH) is the name of an electronic network for financial transactions in the United States. ACH processes large volumes of both credit and debit transactions which are originated in batches. Rules and regulations governing the ACH network are established by NACHA-The Electronic Payments Association, formerly the National Automated Clearing House Association, and the Federal Reserve (Fed). In 2002, this network processed an estimated 8.05 billion ACH transactions with a total value of $21.7 trillion.[1] In the rest of the developed world, these rules and regulations are defined by each country's regulatory bodies. European Payments Council is currently implementing a PE-ACH, Pan-European ACH.
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A collection of 32 regional electronic interbank networks used to process transactions electronically with a guaranteed one-day bank collection float.

An electronic clearing system in which payment orders are exchanged among financial institutions, primarily using magnetic media or via telecommunication networks, and handled by a data-processing centre.
See also:
 clearing    

A facility used by financial institutions to distribute electronic debit and credit entries to bank accounts and settle such entries. Under the automated clearinghouse system, banks exchange checks and drafts drawn upon each other and settle their daily balances.

STANZA DI COMPENSAZIONE AUTOMATIZZATA