What does OCRF mean? is explained earlier. You might also like some similar terms related to OCRF to know more about it.
An Automated Clearing House (ACH) deposit is an electronic transfer of funds using the Automated Clearing House. The Automated Clearing House is a secure network in the United States through which banks and other financial institutions can transmit electronic transactions. An ACH deposit means that funds are electronically deposited into an account.
An Automated Clearing House, or ACH, withdrawal on a checking account is an electronic money transfer, authorizing a merchant to be paid for products or services, according to the U.S. Consumer Financial Protection Bureau. ACH charges are often used when paying bills directly from a bank account. Continue Reading.