Many direct deposits are processed through which of the following?
A) ACH
B) NACHA
C) EPN
D) EFT

Question

Quizplus · Accepted Answer

Many direct deposits are processed through an automated clearinghouse (ACH), which is an electronic network for financial transactions in the United States. An ACH processes large volumes of debit and credit transactions in batches. Rules and regulations that govern the ACH network have been established by the National Automated Clearing House Association (NACHA) and the Federal Reserve. The Federal Reserve banks, as a group, are the nation's largest clearinghouse operator. The Electronic Payments Network (EPN) is the only private-sector ACH in the country. Direct deposit, also known as electronic fund transfers (EFT), are electronic payments of payroll, money owed to vendors or business establishments, and payments from government agencies.

Many Direct Deposits Are Processed Through Which of the Following