ACH Origination is an exciting service offered by Peoples First Community Bank that allows any business customer to originate electronic transactions. Organizations that originate these transactions are called Originators.
Transactions can be either debits or credits.
Examples of debit transactions include utility payments, account drafts, membership fees, dues, insurance premiums, etc. Credit transactions are usually for Direct Deposit of Payroll, electronically crediting a deposit account for the net payroll amount. Since all financial institutions are required to accept ACH, transactions can be posted to any bank, credit union, or savings and loan within the Federal Reserve system. Over 4 billion transactions representing over 14 trillion dollars flowed through the ACH system in 1997. Participation in ACH Origination can reduce the costs associated with manually processing debits and credits.