Accredited Automated Clearing House Professional - AAP

AAA

DEFINITION of 'Accredited Automated Clearing House Professional - AAP'

A professional designation awarded by NACHA (The Electronic Payments Association) to individuals who are experts in electronic payments. Successful applicants earn the right to use the AAP designation with their names for five years, which can improve job opportunities, professional reputation and pay. Every five years, AAP professionals must complete 60 hours of continuing education or successfully retest in order to continue using the designation.

INVESTOPEDIA EXPLAINS 'Accredited Automated Clearing House Professional - AAP'

To pass the AAP exam, applicants should understand ACH rules and regulations, operational requirements, ACH products and applications, the electronic payments cycle, risk management, marketing ACH services, providing ACH-related customer service and more. It is also helpful to have at least two years of professional experience working with ACH payments. Individuals with the AAP designation may work for financial institutions such as banks and credit unions as well as federal or state government entities that process electronic payments.



RELATED TERMS
  1. Bank of First Deposit - BOFD

    The bank where a check is initially deposited to an account. ...
  2. Electronic Benefit Transfer - EBT

    A system that allows state governments to provide and track benefits ...
  3. Authorized Settlement Agent

    A bank that is authorized to submit checks and other cash items ...
  4. Cash Concentration And Disbursement ...

    A type of electronic payment used to transfer funds between remote ...
  5. Depository Transfer Check - DTC

    A check used by a designated collection bank for depositing the ...
  6. Clearing House

    An agency or separate corporation of a futures exchange responsible ...
Related Articles
  1. Credit & Loans

    The Evolution Of Banking

    Banks are a part of ancient history. Find out how this system of money management developed into what we know today.
  2. Budgeting

    The Gold Standard Revisited

    Think the value of gold is unshakable? Read this chronicle of its rise and fall.
  3. Insurance

    Your First Checking Account

    This owner's manual will show you what to expect from your bank.
  4. Options & Futures

    Choose To Beat The Bank

    From internet banking to credit unions, it's in your power to cut fees and maximize service.
  5. Personal Finance

    Cut Your Bank Fees

    Find out how to get the bank to pay you for using their services, not the other way around.
  6. Retirement

    What Was The Glass-Steagall Act?

    Established in 1933 and repealed in 1999, the Glass-Steagall Act had good intentions but mixed results.
  7. Taxes

    What is the best method of calculating depreciation for tax reporting purposes?

    Learn the best method for calculating depreciation for tax reporting purposes according to generally accepted accounting principles, or GAAP.
  8. Fundamental Analysis

    Are accounts receivable used when calculating a company's debt collateral?

    Learn how accounts receivables are recorded as assets on a balance sheet; they are used when calculating a company's total debt collateral.
  9. Fundamental Analysis

    Work In Progress (WIP)

    Work in progress, also know as WIP, is an asset on the company balance sheet. WIP is the accumulated costs of unfinished goods that are currently in the manufacturing process.
  10. Fundamental Analysis

    What is the difference between cost of equity and cost of capital?

    Read about some of the differences between a company's cost of equity and its cost of capital, two measures of its required returns on raised capital.

You May Also Like

Hot Definitions
  1. Command Economy

    A system where the government, rather than the free market, determines what goods should be produced, how much should be ...
  2. Prospectus

    A formal legal document, which is required by and filed with the Securities and Exchange Commission, that provides details ...
  3. Treasury Bond - T-Bond

    A marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years. Treasury bonds make interest ...
  4. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  5. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  6. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
Trading Center