Payment Savvy

FEBRUARY 23, 2023

Originating Depository Financial Institution (ODFI) The ODFI receives the request from the Originator and passes it to the ACH Operator. ACH Operator The ACH Operator links the two accounts by processing transactions (e.g., clearing, delivery, settlement). Why Do ACH Returns Happen?

ACH 52

ACH Returns RDFI ODFI 52

Payment Savvy

NOVEMBER 10, 2022

When it comes to an ACH transaction, there are two main participants. Every month, once the deadline for the payment comes, your insurer’s bank will create an ACH entry, requesting an agreed-upon amount of money to be taken from your account. The request is then sent to an ACH operator.

SEC Codes 52

SEC Codes ACH ODFI Wire Transfer 52

PYMNTS

AUGUST 12, 2019

Direct deposit over the ACH network eliminated that friction and got them earlier access to those funds. Fast-forward four decades, and everyone – FIs, ACH operators, FinTechs – have been working overtime to get payroll off the paper check and to get wages into workers’ bank accounts faster. Much later.

Real Time Payments 78

Real Time Payments FedNow TCH Fed 78