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

Question

Quizplus · Accepted Answer

Automated clearinghouses (ACHs) eliminate the need for paper checks or wire transfers, which can be expensive and time-consuming, resulting in lower transaction costs for all parties involved. Therefore, the use of ACHs saves money for consumers, corporations, and financial institutions.

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