The Automated Clearing House is a system authorized by the U.S. government that involves a financial environment wherein a network of web-linked banks makes electronic wire transfers possible. With the presence of the Automated Clearing House, it will be easier for people to deposit cash and issue cheques for business and personal consumption.
Recently, Brian Smith the business manager of the Bahamas ACH, was featured in the local news because of the pending utilization of ACH within the Caribbean islands. Smith, in this interview, enumerated some of the major advantages the people of the islands can get from the Automated Clearing House in the islands in terms of both personal and business financial transactions. These are as follows.