ODFI, Payment Amount and RDFI

ACH Reversals vs. ACH Returns: What’s the Difference?

EBizCharge

OCTOBER 17, 2023

An ACH return occurs when a digital payment transaction can’t be processed. When this happens, the Receiving Depository Financial Institution (RDFI) automatically initiates a return of the funds to the Originating Depository Financial Institution (ODFI). Even with proper safeguards in place, mistakes or human error can occur.

ACH

ACH Returns RDFI ODFI

ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

Stax

JUNE 27, 2024

ACH Payment Wire Transfer Speed of transactions Typically takes 1-3 days for the receiving bank to receive the funds Within a day for a domestic wire transfer. International wire transfers can take up to 7-10 days Costs and fees Around 1% of the payment amount. The bank then completes the payment on behalf of the customer.

Wire Transfer

Wire Transfer Wire Wires ACH

Payments Space

ACH Reversals vs. ACH Returns: What’s the Difference?

ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

Webinars

Stay Connected