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TL;DR: ElectronicFundsTransfer (EFT) is the umbrella term for all electronicpayments made between bank accounts. Automated Clearing House (ACH) is one type of EFT that processes payments in batches through the ACHNetwork. Understanding these can help you make an informed decision.
And if you’re ever unsure whether a payment has been processed correctly, contact your bank or financial institution for help. But overall, EFT payments are safe, efficient, and easy to use. Regulations for EFT Payment Methods. ACH is an automated clearing house network for electronicfundstransfers in the United States.
ACHtransfers, or payments made through the Automated Clearing House network, account for billions of dollars in payments annually. In fact, NACHA, the nonprofit that governs the ACHpaymentsnetwork reported 6.1% in payment volume growth in Q4 2021. in Q4 2021.
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