Hi,
I’m interested to know if all settlements between banks by ACH (Automatic Clearing Houses) these days is managed by computers or is there still much human input. How exactly does the clearing process work?
I look forward to your feedback.
davidmich
As the name suggests, it’s almost entirely automated. Humans normally only intervene if something goes wrong, such as a transaction was mis-coded, or if a check is mis-read at the point of purchase.
When I was involved in a (much smaller scale) version of that 10 or 15 years ago, human beings were still involved in putting the paper for the reports into the printers.