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6 Risks of Automated Clearing House Payments. The automated clearing house (ACH) payment system has operated under a system of rules that are accepted by all participants and have been in use for many years. | 6 Risks of Automated Clearing House Payments The automated clearing house ACH payment system has operated under a system of rules that are accepted by all participants and have been in use for many years. OVERVIEW Business establishments use ACH transactions for many types of payments. Businesses pay bills owed to other businesses through ACH. Businesses originate consumer credits by paying employees direct deposits of payroll reimbursements for travel and benefits. They initiate consumer debits to re-present checks that have been returned for insufficient funds and to convert consumer checks presented at the point of purchase or mailed to a merchant or lockbox. Businesses receive ACH payments from purchasers of their goods and services. The success of the ACH payment system can be measured by its infrequent failures and invulnerability to the usual attempts at fraud. 141 Risks of Automated Clearing House Payments The National Automated Clearing House Association NACHA is a nonprofit membership organization with about 40 regional member ACH associations that represent more than 12 000 financial institutions which in turn provide ACH services to more than 3 500 000 companies and to more than 100 million consumers. NACHA sponsors the the Bankers Electronic Data Interchange EDI Council the Electronic Check Council the Bill Payment Council the Cross-Border Council the Electronic Benefits Transfer Council the Internet Council and other councils which oversee the rules and suggest changes and new rules for consideration by NACHA. NACHA s stated purpose is to develop and promote the national exchange of electronic entries among participating financial institutions. 1 For such an exchange to function effectively a high degree of mutual understanding and cooperation among the individual participants is necessary and the Operating Rules are designed to promote such a culture.2 The ACH Operating Rules are issued annually by NACHA. DEFINITIONS There are two types of ACH .
