Direct Deposit, IAT and Wires

Navigating the ACH Landscape: Understanding Payment Types and Payment Codes

EBizCharge

SEPTEMBER 18, 2024

ACH payments offer a secure, reliable, and cost-effective way to transfer funds for payroll, recurring bill payments, direct deposits, and other routine transactions. These transactions are processed in batches, making them more efficient and less costly than wire transfers or card payments.

ACH

ACH IAT ACH Network Direct Deposit

ACH SEC Codes

Payment Savvy

NOVEMBER 10, 2022

In terms of ACH transaction types, there are two – ACH debits, also known as direct payments (when money gets pulled out of an account), and ACH credits, also known as direct deposits (when money gets added to the account). First of all, ACH payments are a lot cheaper than, for example, wire transfers.

SEC Codes

SEC Codes ACH ODFI Wire Transfer

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Navigating the ACH Landscape: Understanding Payment Types and Payment Codes

ACH SEC Codes

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