What is ACH (EFT) and how can it help my nonprofit organization?
ACH stands for “Automated Clearing House” and is the U.S. Federal Reserve system for electronic processing of checks and automated inter-bank transactions. ACH is the system that underpins services such as online bill payment, and Check 21. In an online fundraising context, ACH debit transactions can be used to automatically draft one-time or sustaining (recurring) gifts from a donor’s checking account. This is often generically referred to as EFT (Electronic Fund Transfer).
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