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). How do ACH returns work?

ACH 52

ACH Returns RDFI ODFI 52

Stax

APRIL 23, 2024

Step 2: Transaction initiation Once your client fills out the form, they will either send it to the ACH provider or the ODFI, which stands for Originating Depository Financial Institution. Robust payment security ACH transactions are also more secure than any other B2B payment method.

ACH 88

ACH Direct Deposit ACH Network Wire Transfer 88

EBizCharge

JULY 16, 2024

Ensuring compliance with NACHA requirements is crucial for financial institutions, as it guarantees the secure, efficient, and reliable handling of electronic payments. Under NACHA’s stewardship, the ACH network processes various payments, including direct payments for payroll, social security benefits, tax refunds, and more.

NACHA 52

NACHA Nacha Rules ACH Network ACH 52