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)
“The pace of science forces the pace of technique. Theoretical physics forces atomic energy on us; the successful production of the fission bomb forces upon us the manufacture of the hydrogen bomb. We do not choose our problems, we do not choose our products; we are pushed, we are forced—by what? By a system which has no purpose and goal transcending it, and which makes man its appendix.”
—Erich Fromm (1900–1980)
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