Asked by: Niculaie Heriaspersonal finance credit cards
What is ACH and how does it work?
Last Updated: 6th March, 2020
Click to see full answer.
People also ask, how does ACH payment processing work?
ACH payments are electronic payments that are created when the customer gives an originating institution, corporation, or other customer (originator) authorization to debit directly from the customer's checking or saving account for the purpose of bill payment.
what is needed for ACH payment? What information do I need to provide for an ACH transaction? You provide your name, indication of personal or business account type, bank routing number, account number, and payment amount.
Also asked, what is a ACH payment?
Automated Clearing House (ACH) payments are electronic payments that pull funds directly from your checking account. Instead of writing out a paper check or paying with a debit or credit card, the money moves automatically. ACH can make your life easier, but it can also cause problems.
Why did I get an ACH credit?
If you see an ACH transaction on your bank statement, it indicates that an electronic transfer of funding has been paid either to or from your bank account. ACH transactions may be authorized to make a payment for a loan – or other account – one time or on a recurring basis.