NACHA meaning in Business ?

Answer:

What is National Automated Clearing House Association mean?

National Automated Clearing House Association (Nacha) manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data in the United States. It is funded by the financial institutions it governs. The ACH Network serves as a network for direct consumer, business, and government payments, and annually facilitates billions of payments such as direct deposit and direct payment. The ACH Network is governed by the Nacha Operating Rules, a set of rules that guide risk management.

Nacha is a 501(c)(6) not-for-profit association incorporated in 1974. It represents nearly 11,000 financial institutions by way of eleven regional payments associations and direct membership. Nacha is not directly involved in the ACH transactions that flow to and from organizations and financial institutions.

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