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2. ACH Network - Wikipedia

   en.wikipedia.org/wiki/ACH_Network

   Portal. v. t. e. In the United States, the ACH Network is the national automated clearing house (ACH) for electronic funds transfers established in the 1960s and 1970s. It processes financial transactions for consumers, businesses, and federal, state, and local governments. ACH processes large volumes of credit and debit transactions in batches.

3. ABA routing transit number - Wikipedia

   en.wikipedia.org/wiki/ABA_routing_transit_number

   ABA routing transit number. In the United States, an ABA routing transit number (ABA RTN) is a nine-digit code printed on the bottom of checks to identify the financial institution on which it was drawn. The American Bankers Association (ABA) developed the system in 1910 [1] to facilitate the sorting, bundling, and delivering of paper checks to ...

4. Originating Depository Financial Institution - Wikipedia

   en.wikipedia.org/wiki/Originating_Depository...

   Originating Depository Financial Institution or ODFI is a banking term in the United States used in connection with ACH Network (ACH). In the ACH flow, the ODFI acts as the interface between the Federal Reserve or ACH network and the originator of the transaction. The ODFI warrants to the ACH network that the transactions it transmits to the ...

5. Standing order (banking) - Wikipedia

   en.wikipedia.org/wiki/Standing_order_(banking)

   A standing order (or a standing instruction) is an instruction a bank account holder ("the payer") gives to their bank to pay a set amount at regular intervals to another's ("the payee's") account. The instruction is sometimes known as a banker's order. They are typically used to pay rent, mortgage or any other fixed regular payments.

6. Automated clearing house - Wikipedia

   en.wikipedia.org/wiki/Automated_Clearing_House

   Banking. 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. [2][3] The ACH system is designed to process batches of payments containing numerous ...

7. Why some US bank deposits are held up days after ... - AOL

   www.aol.com/finance/why-us-bank-deposits-held...

   The private company that processes many bank-to-bank electronic transfers said a 'processing error' last week led to payment delays on roughly 850,000 transactions. ... ACH operation essentially ...