National Automated Clearinghouse Association - NACHA
 |
Definition of 'National Automated Clearinghouse Association - NACHA 'A non-profit membership association charged with overseeing the Automated Clearing House (ACH) system, which operates the largest electronic payment network in the world.Most of NACHA's 10,000+ members are depositary institutions and regional payment associations. Through its supervisory and rule-making functions, NACHA provides the legal foundation for electronic payment systems to operate effectively, while working to update technologies and create new payment systems. |
 |
Investopedia explains 'National Automated Clearinghouse Association - NACHA 'Although not a government agency, NACHA works closely with all interested government agencies (including the Federal Reserve, the state banking authorities and the Treasury) to ensure the integrity of the electronic payments systems used by banking and other depositary institutions.NACHA not only develops rules and codes of business practices, but it is involved in the development of new applications. It also institutes and monitors quality- and risk-management controls. Over 18 billion ACH payments were processed in 2007. |
Related Definitions
Articles Of Interest
-
The Ins And Outs Of Bank Fees
These service charges could nickel and dime you right out of your nest egg. -
Your First Checking Account
This owner's manual will show you what to expect from your bank. -
Inside National Payment Systems
The global interconnection of U.S. payment systems makes commerical and financial transfers possible. -
Electronic Trading Tutorial
Learn about the systems that run the market. Topics include market makers, specialists, SuperDOT, ECNs, SOES, Level I, II, and III Access, and more. -
What does CHIPS UID mean?
CHIPS UID stands for Clearing House Interbank Payments System Universal Identifier. This is just a fancy name for an electronic clearinghouse database system, which facilitates the transfer of ...
Free Annual Reports