Payment Savvy

FEBRUARY 23, 2023

Some of the most common ACH return codes are caused by incorrectly entered information or insufficient funds available, while others can be more complicated and include issues with authorization and more. Receiving Depository Financial Institution (RDFI) The RDFI is the bank that is being charged or refunded.

ACH 52

ACH Returns RDFI ODFI 52

EBizCharge

OCTOBER 17, 2023

When this happens, the Receiving Depository Financial Institution (RDFI) automatically initiates a return of the funds to the Originating Depository Financial Institution (ODFI). Review and ACH return initiation: The RDFI will evaluate the transaction and identify the specific issue before initiating the return. What is an ACH return?

ACH 52

ACH Returns RDFI ODFI 52

Stax

JUNE 27, 2024

The utility company (the ODFI) passes the ACH files to the financial institution, which then sends a file with the payment request to the customer’s bank (the RDFI). You must have the employees’ bank routing numbers, account numbers, and authorization to set up payroll via ACH transfer.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88