Automated Clearing House (ACH) is an electronic network for processing large volumes of transactions, such as direct deposits for payroll, between banks in the United States.
- What is Automated Clearing House (ACH)?
Answer: It is an electronic network for processing transactions like payroll direct deposits between banks. - How is ACH used in HR?
Answer: It is used to automate salary payments and benefit disbursements to employees. - What are the benefits of using ACH for payroll?
Answer: Benefits include cost savings, speed, and reduced paperwork. - What security measures are involved with ACH?
Answer: Measures include encryption, authentication, and compliance with NACHA rules. - What happens if an ACH payment fails?
Answer: A failed payment may result in a reversal or manual correction by the employer.
