What does OCRF mean? is explained earlier. You might also like some similar terms related to OCRF to know more about it.
An Automated Clearing House (ACH) deposit is an electronic transfer of funds using the Automated Clearing House. The Automated Clearing House is a secure network in the United States through which banks and other financial institutions can transmit electronic transactions. An ACH deposit means that funds are electronically deposited into an account.
Credit Entry Authorization. Credit transactions or Direct Deposit via ACH is the deposit of funds to a consumerâs account for payroll, employee expense reimbursement, government benefits, tax and other refunds, and annuities and interest payments. Itâs not required to be in writing but a Company may choose to get an authorization in writing.