Definitions for "ACH Network"
The funds transfer system governed by the rules of the National ACH Association which provides for the inter-financial institution clearing of electronic entries for participating financial institutions.
The group of financial institutions and similar entities that work together on electronic check transactions. Processing, clearing, delivery and settlement services are handled by the ACH Network, which is governed by the National Automated Clearing House Association.
A central distribution and settlement point for electronic items exchanged among depository financial institutions.