How Do Your ACH Transactions Take Place?
For an ACH transaction, two people are involved, one who pays and one who gets paid; the initiator and the receiver.
- With Zil, the initiator can make a transaction from anywhere, anytime.
- The initiator will be asked to provide checking account details, such as the recipient’s routing number and bank account number.
- The receiver’s bank information and transaction amount can be found in the ACH files, along with many other parameters and formats.
What is ACH?
Transactions in the United States are facilitated by the ACH (Automated Clearing House) network of financial institutions, which is run by the National Automated Clearing House Association (NACHA). It includes external fund transfers, individual payments, bill payments, direct deposits from employers, and government benefit programs. (Business-to-business payments are another.) Many transfer providers use the Automated Clearing House Network to send money to friends and family, including banks, Zelle, and third-party applications like PayPal and Venmo.
FREQUENTLY ASKED QUESTIONS
What is an ACH transaction?
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ACH Payment vs Wire Transfer
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