Origination SEC Codes Tax Refunds 
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. It is a kind of payment that goes from a commercial account holder to a consumer.
EBizCharge
JULY 16, 2024
Under NACHA’s stewardship, the ACH network processes various payments, including direct payments for payroll, social security benefits, tax refunds, and more. Compliance with these standards is pivotal for entities that wish to conduct electronic payments such as direct payments, tax refunds, and social security distributions.
Expert insights. Personalized for you.
52 
Let's personalize your content