What does ach debit stand for?

Answer An ACH debit is an electronic debit transaction performed by the financial network known as "Automated Clearing House." ACH is used to transfer funds to and from multiple accounts, according to the... Read More »

Top Q&A For: What does ach debit stand for

What Do Debit Card Numbers Stand for?

In the 1980s when electronic banking began, banks issued debit cards for use only with their own ATMs. The debit cards' number systems were as varied as their issuers. However, as debit cards evolv... Read More »

What does unsecured debit mean?

An unsecured debt is defined as "a debt that a creditor has not secured by collateral." An example of an unsecured debt is credit card debt. If the "borrower" defaults, the issuer has no assets to ... Read More »

What Does Debit Memo Mean?

Debit memos mean different things, depending on context. A memo is usually a reminder, or an adjustment to a running balance. Debit memos can occur in business or in personal financial transactions.

What does"reverse the debit"mean?

Mostly used in banking to refer to bank statements, the term "reverse a debit" usually refers to the return of money back to an account. Debits from bank statements refer to the withdrawal of funds... Read More »