How are ACH payments often described?

ACH payments, or Automated Clearing House payments, are often described as push and pull payments because of the mechanics involved in their processing.

In the context of 'push' and 'pull,' these terms refer to the direction of the transaction. A "push" payment is initiated by the payer who sends money (for example, a direct deposit from an employer to an employee's bank account), whereas a "pull" payment is initiated by the payee, who pulls money from the payer's account (for example, an automatic bill payment). This dual functionality of ACH payments makes them versatile for various use cases, such as payroll, vendor payments, and consumer bill payments.

The other descriptions do not accurately reflect the nature of ACH payments. They are not classified as high-value payments, which typically involve larger sums often associated with wire transfers. They are also not exclusively for international transactions, as ACH is primarily a domestic transfer mechanism in the U.S. Lastly, they are not cash-only transactions, as they involve bank transfers and electronic funds rather than physical cash. This makes the description of ACH payments as push and pull transactions the most accurate one.