3 ms·
Because Nacha (and ACH) is explicitly not a government system
by dylanlacom 3y ago
Because Nacha (and ACH) is explicitly not a government system
- PaulDavisThe1st 3y agoACH involves the Federal Reserve Bank in every transfer. FedNow involves the Federal Reserve Bank in every transfer.
- biesnecker 3y agoTo be fair only about half of US ACH traffic flows through the Fed (the other half goes through the Clearing House Payments Company), but the Fed is very much involved (and a critical component of) the ACH network, even if the system is not explicitly a government one.
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- delfinom 3y agoNacha governs the ACH network and does not operate anything. The actual processing is split between the Fed and a company called Clearing House.