What are ACH payments? What is the meaning in business banking?
ACH payments are payments to or from a depositaccount that are completed electronically through a network of Automated Clearing Houses. They have many business uses, including direct deposit of payroll to employee accounts instead of making payroll disbursements by check, conversion and collection of accounts receivable check payments electronically, business-to-business payments using electronic means, electronic debiting of customer accounts (when authorized) for billed amounts, and many more.
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ACH payments are payments to or from a 