The Check Clearing System is operated by the Taiwan Clearing House (TCH), whose business is primarily dealing with the clearing of checks and returned checks, the Automated Clearing House (ACH) operations and the Financial Collection System (FCS) operations (See Chart 1). The ACH direct debit services help payees collect payments, such as utility fees, telephone bills, gas bills, cable access charges, credit card bills, and school tuition, from the payers. The direct credit services help payers pay wages or salaries, stock dividends, insurance premiums, pension and annuities for elders, etc. Over these years, the ACH transaction volume increased as electronic funds transfers grew every year. On the contrary, the transaction volume of check clearing remained in a downtrend.  

                              Chart 1 Framework of TCH's Primary Payment Operations