Uses of The ACH Payment System
- Bank treasury management departments sell this service to business and government customers
- Business-to-business payments
- Direct debit payment of consumer bills such as mortgages, loans, utilities, insurance premiums, rents, and any other regular payment
- Direct deposit of payroll, Social Security and other government payments, and tax refunds
- E-commerce payments
- Federal, state, and local tax payments
Read more about this topic: Automated Clearing House
Famous quotes containing the words payment and/or system:
“The payment of debts is necessary for social order. The non-payment is quite equally necessary for social order. For centuries humanity has oscillated, serenely unaware, between these two contradictory necessities.”
—Simone Weil (1909–1943)
“Fear, coercion, punishment, are the masculine remedies for moral weakness, but statistics show their failure for centuries. Why not change the system and try the education of the moral and intellectual faculties, cheerful surroundings, inspiring influences? Everything in our present system tends to lower the physical vitality, the self-respect, the moral tone, and to harden instead of reforming the criminal.”
—Elizabeth Cady Stanton (1815–1902)