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Originally Posted by krayziebone33
What does ACH stand for?
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Quote:
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Originally Posted by BTC
Automated Clearing House.
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Yes, other terms here are EFT (Electronic Funds Transfer) and bank wires. Bank wires are instant money transfers (costing $15+ to initiate) and ACH transfers are "virtual checks" (free or small charge to initiate) both are EFT's. The Check 21 (?) system allows banks to process the physical checks you write electronically too.