Automatic Clearing House
What is an ACH?ACH stands for Automatic Clearing House which means that it is an Automatic Electronic Funds transfer from bank to bank. This is normally used for recurring payments or deposits.
What is the benefit?The fee is only $2.50 compared to a $18.00 wire transfer fee. There is no risk of losing a check in the mail. You can have the money transferred regularly to your account at another bank or have money pulled from your account at another bank to pay your loan payment or to be deposited into your account at Farmers State Bank.