What is ACHCr in bank terms
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In banking, ACH stands for Automated Clearing House, which is a network that coordinates electronic payments and automated money transfers. ... Onbank statements (or in your transaction history), ACH means that an electronic payment was made to or from your account using your checking account information
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ACHCR in banking terms is known as automated clearing house credit.
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It is used for the transaction, automation of payment systems, and other banking services.
- It includes direct deposit and direct payment to the vendor.
- It is a method of paperless transactions and this system allows banks to have ease in banking.
- We don't have to write checks or have any signature or thumb impression for doing the same.
- It consists of a lot of computers that are working together as a server.
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