ACH is a popular method of payment that inexpensively moves trillions of dollars from one account to another across the US. ACH is an electronic method of funds transfer that moves money between businesses, governments, and consumers quickly and securely. Encompassing multiple types of transfers, ACH often goes by other names like Direct Deposit, automatic withdrawal, e-checks, and other names. ACH is considered an efficient, cost-effective, and secure alternative to wire transfers and paper checks.
According to Nacha (the National Automated Clearing House Association) in 2020 over 26.8 billion payments were made via ACH, the total value exceeding $61.9 trillion.