Payment Savvy

FEBRUARY 23, 2023

Receiving Depository Financial Institution (RDFI) The RDFI is the bank that is being charged or refunded. If there is a problem with the payment processing, it is usually the RDFI that sends an ACH return message. It receives the ACH entry and submits it to the Receiver. types incorrectly, out of sequence, etc.)

ACH 52

ACH Returns RDFI ODFI 52

EBizCharge

OCTOBER 17, 2023

government to send payments such as tax refunds, Social Security benefits, and other government assistance programs. Fortunately, the National Automated Clearing House Association (NACHA) , the governing body over the ACH Network, has processes, procedures, and safeguards to protect consumers and merchants from transaction errors.

ACH 52

ACH Returns RDFI ODFI 52

Stax

JUNE 27, 2024

From $0-$15 for internal wire transfers and up to $35-$50 for external international wire transfer Security measures More secure since every ACH transfer goes through a clearinghouse network governed by NACHA More prone to scams and fraud. Government payments – You can use ACH to pay individual and business taxes to the IRS.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88