AUTOMATIC CLEARINGHOUSE (ACH)
\ˌɔːtəmˈatɪk klˈi͡əɹɪŋhˌa͡ʊs ɐt͡ʃ], \ˌɔːtəmˈatɪk klˈiəɹɪŋhˌaʊs ɐtʃ], \ˌɔː_t_ə_m_ˈa_t_ɪ_k k_l_ˈiə_ɹ_ɪ_ŋ_h_ˌaʊ_s__ ɐ_tʃ]\
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In the United States a national ELECTRONIC FUNDS TRANSFER network that clears and settles recurring payments between financial institutions, as well as debits and credits generated through businesstobusiness commerce and trade transactions.
By Henry Campbell Black
Word of the day
tinctura quininae ammoniata
- A preparation made by dissolving quinin sulphate in alcohol [Br. Ph.].