I’m a big fan of clear explanations, especially when they involve a complex process. This is a clear explanation of ACH, or Automated Clearing House.
ACH is sort of like PayPal, an easy way for someone to move money into someone else’s bank account. Happens all the time. Employers use it to direct deposit paychecks into their employees’ accounts. You might use it to move money from your 401K or mutual fund into your own account. Even PayPal uses ACH to move money around.
As I said, this is a clear explanation. Worth reading, if only to familiarize yourself with the process.