EBizCharge

OCTOBER 17, 2023

government to send payments such as tax refunds, Social Security benefits, and other government assistance programs. 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

Stax

APRIL 23, 2024

Learn More Understanding ACH Deposits Small business owners often opt for ACH payments to handle billing and tax refunds in order to streamline processes for transferring money, paying bills, and automatically organizing finances. Step 4: Payment processing Once the RDFI approves the fund’s amount, the direct payment will be processed.

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ACH Direct Deposit ACH Network Wire Transfer 88

Payment Savvy

FEBRUARY 23, 2023

Common ACH direct deposits include payrolls, benefits, tax refunds, or interest payments. There are five parties involved in making the payment processing go through: Originator This is a person who submits an ACH transfer to the ODFI. In rare cases, you may have the ACH Operator or ODFI do that.

ACH 52

ACH Returns RDFI ODFI 52