What is another term for Automated Clearing House functions?

The correct answer for another term for Automated Clearing House (ACH) functions is funds transfer network. ACH refers to a system that enables electronic payments and transfers between financial institutions, effectively acting as a network for moving money. This includes a variety of services such as direct deposits, consumer payments, and business transactions, all handled electronically.

The term "funds transfer network" encompasses the broader mechanism that ACH represents, highlighting its function in facilitating the movement of funds across the banking system. It captures the essence of what ACH does: transferring money seamlessly and electronically, making it a suitable synonym. Understanding this concept is vital as it emphasizes the infrastructure and operational capabilities behind ACH transactions.