Automated Clearing House - ACH

Automated Clearing House - ACH

It is a system whereby participating banks and their branches can exchange low-value payment orders automatically, processing and sending the final NSI settlement to the RTGS real-time RTGS system. The system also exchanges the electronic instruments encoded with magnetic ink. The original copy of the instrument is kept in the depositing branch And send the photograph of the instrument and its data to the withdrawn branch. The actual operation of the system started in 2011, the direct participants in the system were the Ministry of Finance and the 64 banks in addition to the Central Bank as a participant. The number of branches of participating banks reached 688 branches in addition to branches of the Central Bank.