Stax

APRIL 23, 2024

TL;DR Nearly 93% of Americans receive payments through direct deposit; Automated Clearing House makes it simpler for employers to manage funds without handing out physical checks or dealing with pesky extra fees. Many small businesses choose ACH operators because they are more convenient than most direct deposits.

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Payment Savvy

FEBRUARY 23, 2023

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 Returns RDFI ODFI 52

Stax

JUNE 27, 2024

They’re mostly used to process direct deposits and payments. Some people refer to ACH payments as direct debit, direct deposit, or auto-transfer. 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).

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Wire Transfer Wires Wire ACH 88

EBizCharge

OCTOBER 17, 2023

The most common transactions sent over ACH include electronic funds transfer (EFT), employee payroll direct deposits, and electronic bill payments. When this happens, the Receiving Depository Financial Institution (RDFI) automatically initiates a return of the funds to the Originating Depository Financial Institution (ODFI).

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ACH Returns RDFI ODFI 52

Nanonets

MARCH 21, 2023

ACH is most commonly used for direct deposit of payroll, payment of bills, and business-to-business payments. The ACH network then combines each message into a batch that is sent to the bank receiving the request (the receiving depository financial institution, or RDFI).

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