What is an ACH Credit or Debit transaction?
An ACH transaction is a method of payment (or credit) that allows companies to electronically withdraw (or credit) funds from your checking account. You are the only one who can give authorization for an ACH debit to occur, at which time the authorized amount is deducted from your account. Many companies use ACH transactions as the vehicle that allows you to automatically make monthly payments each month for your loan, cable TV, phone service etc.
