Entry from US English dictionary
Definition of Automated Clearinghouse in English:
The electronic clearing and settlement system used for financial transactions by US commercial banks and other institutions.
- These transactions are final within 24 hours and are covered only by the underlying rules and regulations of the National Automated Clearinghouse Association.
- To change account information, simply complete an Automated Clearinghouse Application.
- All processors transmit using the central Automated Clearinghouse, so you know your funds are secure.
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