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What Does Return Mobile ACH Payment Mean?

Payment Savvy

There are two main ACH payment methods: direct deposits and direct payments: ACH direct deposits : Whenever you need to deposit your money to someone’s account, you can do it through ACH direct deposits. It is a kind of payment that goes from a commercial account holder to a consumer.

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ACH SEC Codes

Payment Savvy

There’s the ODFI, which stands for Originating Depository Financial Institution, and there’s the RDFI, which stands for Receiving Depository Financial Institution. To put it simply, the ODFIs are the financial institutions that send the transaction, while RDFIs are the institutions that receive it.