What is the primary function of the Automated Clearing House (ACH) Network?

The primary function of the Automated Clearing House (ACH) Network is to facilitate electronic commerce securely. The ACH Network is a payment system that enables the transfer of funds between bank accounts through electronic means, supporting various types of transactions, such as direct deposits, bill payments, and intra-bank transfers. This system is designed to process these transactions in batches, allowing for efficient processing of secure electronic payments.

ACH plays a significant role in the modern financial ecosystem, as it provides a reliable and cost-effective method for individuals and businesses to conduct financial transactions without relying on paper checks or physical cash. By facilitating such transactions securely, ACH contributes to the overall growth of electronic commerce, making it easier for consumers and businesses to exchange money and settle accounts.

The other options do not accurately describe the primary function of the ACH Network. For instance, while electronic commerce is relevant to ACH, managing physical cash transactions, regulating credit card interest rates, and overseeing bank lending practices fall outside the scope of what the ACH Network is designed to do.