In the context of finance, “ACH” stands for Automated Clearing House. It refers to a large electronic network that facilitates direct transfers of funds between financial institutions, without paper checks or credit cards. ACH transfers are often used for payroll deposits, bill payments, and government benefits.
Sentence examples:
- “I set up an ACH transfer to pay my rent automatically.”
- “My salary is directly deposited into my account through ACH.”
- “ACH transfers are faster and cheaper than using checks.”