Unit - 4 Lesson - 2 Automated Clearing House Notes
E-Commerce Unit - 4 Lesson - 2 Automated Clearing House Automated Clearing House 1. This platform is used for clearing money transfer from sender to receiver with authorization. Transfer of money in digital mode. 2. Approximately 170 member banks and 1203 sub-members banks are part of this National Automated Clearing House, ACH. 3. There are 11 million transactions done per day during the year 2019-2020 4. It has a capacity of handling 175 million transactions per day. Automated Ledger Posting Features : 1. Maintain ledgers online 2. Posting can be done automated manner 3. Trail Balance and Balance Sheet prepared with software. 4. Adjustments of pending transactions can settle with banks online. Emerging modes and systems of E-payment (Mpaisa, Paypal and other digital currency) E-payment Risks Internet Banking Risks : Internet banking creates new risk control challenges for national banks. Risk is the potential that events, expected or unexpected, may have an adverse impact on the b