ACH Entry, ACH Network and RDFI

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ACH Entry

ACH Network

RDFI

ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

Stax

JUNE 27, 2024

ODFI submits ACH file – The originator’s bank or payment processor, also known as the originating depository financial institution (ODFI) submits the ACH entry containing the payment details. Your bank sends the ACH files with the payment details based on the ACH instructions to the utility company (merchant).

Wire Transfer

Wire Transfer Wires Wire ACH

ACH SEC Codes

Payment Savvy

NOVEMBER 10, 2022

Before diving deeper into SEC codes, let’s take a minute to better understand ACH transactions – if you’ve already worked with ACH transactions and have an idea about what is involved in them, you can skip this section and go straight to SEC codes. When it comes to an ACH transaction, there are two main participants.

SEC Codes

SEC Codes ACH ODFI Wire Transfer

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ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

ACH SEC Codes

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