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.
The depository institution that is a member of ACH is usually a bank or other financial institution which is initiating a payment on behalf of its client. This is different from check processing in which the paying bank on which the check is drawn warrants that the transaction is in compliance.