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ACH (Automated Clearing House) payments are basically EFTs ( electronic fund transfers ) that use the ACH network to move funds between bank accounts in the United States. The ACH network is managed by NACHA, formerly known as the National Automated Clearing House Association. What is an ACH transfer?
Before diving deeper into SEC codes, let’s take a minute to better understand ACH transactions – if you’ve already worked with ACH transactions and have an idea about what is involved in them, you can skip this section and go straight to SEC codes. When it comes to an ACH transaction, there are two main participants.
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