The use of automated clearinghouses (ACHs) saves money for consumers, corporations and financial institutions by reducing transactions costs.

Question

Quizplus · Accepted Answer

Automated clearinghouses (ACHs) streamline the process of transferring funds electronically between bank accounts, thereby reducing the costs associated with paper-based processes like check writing and mailing. As a result, consumers, corporations, and financial institutions can all benefit from the cost savings offered by ACHs.

The Use of Automated Clearinghouses (ACHs) Saves Money for Consumers