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.
That is because there is no official governing standard called âglobal ACHâ or âinternational ACH.â. What most people mean when discussing âGlobal ACHâ is the direct deposit of funds into a cross-border bank account through that countryâs basic clearing mechanism. In the United States, NACHA (National Automated Clearing House Association) manages the ACH network of transactions for all the banks in the US. The equivalent of ACH in Europe is SEPA, the Single Euro Payments Area, which consists of 35 participating countries (with specific exclusions of certain territories).