Final answer:
The Automated Clearing House (ACH) is a system that facilitates electronic money transfers between bank accounts in the United States. It allows individuals and businesses to make payments and receive funds electronically.
Step-by-step explanation:
The **Automated Clearing House (ACH)** is a system that facilitates electronic money transfers between bank accounts in the United States. It allows individuals and businesses to make payments and receive funds electronically, rather than using paper checks or cash. ACH transactions can include direct deposits, bill payments, and other types of transfers.
ACH transfers are processed in batches, with funds typically being deposited into the recipient's account within one to three business days. The ACH system is operated by the National Automated Clearing House Association (NACHA) and has become an essential part of the U.S. banking system.