NACHA oversees which network?

NACHA oversees which network?

• A. SWIFT network
• B. ACH network
• C. Card networks
• D. Fedwire

Answer: (B)

NACHA governs the ACH network, the automated clearing house system used for electronic bank-to-bank payments in the United States. NACHA creates and maintains the operating rules and standards that bodies like banks and ACH operators follow when processing ACH transfers, such as direct deposits and bill payments. This network is distinct from others: SWIFT is an international messaging system for banks, Fedwire is a real-time gross settlement service run by the Federal Reserve, and card networks manage consumer card payments. So the organization’s oversight is focused on the ACH network, while the actual processing and settlement are handled by banks and specific ACH operators under those rules.

NACHA governs the ACH network, the automated clearing house system used for electronic bank-to-bank payments in the United States. NACHA creates and maintains the operating rules and standards that bodies like banks and ACH operators follow when processing ACH transfers, such as direct deposits and bill payments. This network is distinct from others: SWIFT is an international messaging system for banks, Fedwire is a real-time gross settlement service run by the Federal Reserve, and card networks manage consumer card payments. So the organization’s oversight is focused on the ACH network, while the actual processing and settlement are handled by banks and specific ACH operators under those rules.