Commerce Glossary

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What is ACH Payment?

ACH pay - ment
noun
Is an electronic payment service that enables a money transfer from one bank account to another, processed by Automated Clearing House (ACH) network, and used to send or receive payments from a business or personal bank account without using any cash or paper checks.
ACH payment processing time

This has improved over the years on average, according to the National Automated Clearing House Association (NACHA), and now the ACH process can happen within one to two business days.

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