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Navigating electronic payments requires a thorough understanding of compliance standards set forth by governing bodies such as the National Automated Clearing House Association (NACHA) network. These requirements can protect consumers by confirming their consent, prevent errors, and reduce the likelihood of disputed transactions.
ACH (Automated Clearing House) payments are basically EFTs ( electronic fund transfers ) that use the ACH network to move funds between bank accounts in the United States. The ACH network is managed by NACHA, formerly known as the National Automated Clearing House Association. What is an ACH transfer?
If you are using the Automated Clearing House (ACH) method to process customers’ transactions, you are likely to see three-digit codes if a problem arises. Automated Clearing House (ACH) payments are electronic payment processing carried out between two financial institutions (e.g., What Are ACH returns?
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