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ACH (Automated Clearing House) (definition)

A U.S.-based banking network that manages batch transactions between financial institutions. Credit transactions handled by the ACH include direct deposit of employee paychecks. Debit transactions include electronic payments (e-payments) to payroll tax agencies, such as the IRS or the California EDD.

KB ID# H_PAY_GLOSSARY_ACH
12/11/2016 1:56:33 AM
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