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An automated clearing house (ACH) is a computer-based electronic network for processing transactions, [1] usually domestic low value payments, between participating financial institutions. It may support both credit transfers and direct debits .
Not all EFT payments are processed through the ACH network, but all ACH payments are EFTs; Automated teller machine (ATM) transfers; Direct deposit payment or withdrawals of funds initiated by the payer; Direct debit payments in which a business debits the consumer's bank accounts for payment for goods or services
Some customers still haven’t received their direct deposit paychecks following a “human error” last week deep in the plumbing of America’s banking system.
The Electronic Payments Network (EPN) is an electronic clearing house that provides functions similar to those provided by Federal Reserve banks' FedACH service. The Electronic Payments Network is the only private-sector operator in the ACH Network in the United States. [1] The EPN is operated by The Clearing House Payments Company. [2] [3]
A chargeback is a return of money to a payer of a transaction, especially a credit card transaction. Most commonly the payer is a consumer.The chargeback reverses a money transfer from the consumer's bank account, line of credit, or credit card.
This feature can be disabled within the program settings. It uses the Ghostscript file format converter and RedMon printer redirection software. [5] According to its documentation, PrimoPDF has the following features: PrimoPDF supports creation profiles (Screen, eBook, Print, Prepress, and Custom) to determine file quality, resolution, and size.
User can authenticate a NACH API e-mandate on the web. The customer gets directed to the NPCI website, where customer has to choose their bank, and then authenticate via one of the two methods - 1. Net banking credentials 2. Debit card. [3] Kotak Mahindra Bank became the first bank to allow customers to choose both methods for authentication. [5]
The Clearing House Interbank Payments System (CHIPS) is a bank owned automated funds-transfer system for domestic and international high value payment transactions in U.S. dollars. It is a real-time final settlement payment system that continuously matches, off-sets and settles payments among international and domestic banks. [3]