Payment Savvy

FEBRUARY 23, 2023

Common ACH direct deposits include payrolls, benefits, tax refunds, or interest payments. 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.

ACH 52

ACH Returns RDFI ODFI 52

Stax

JUNE 27, 2024

The utility company (the ODFI) passes the ACH files to the financial institution, which then sends a file with the payment request to the customer’s bank (the RDFI). Common uses for ACH payments Some common uses of ACH payments include: Payroll – Businesses all over the US use ACH transfers to pay their employees’ paychecks.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

Stax

APRIL 23, 2024

ACH transfers don’t come with high fees and transactions and they’re easily edited if an employer wants to adjust payroll, extend bonuses, or reimburse an employee. They are also easily edited if an employer wants to adjust payroll, extend bonuses, or reimburse an employee. ACH transfers don’t come with high fees and transactions.

ACH 88

ACH Direct Deposit ACH Network Wire Transfer 88

EBizCharge

OCTOBER 17, 2023

The most common transactions sent over ACH include electronic funds transfer (EFT), employee payroll direct deposits, and electronic bill payments. When this happens, the Receiving Depository Financial Institution (RDFI) automatically initiates a return of the funds to the Originating Depository Financial Institution (ODFI).

ACH 52

ACH Returns RDFI ODFI 52

Nanonets

MARCH 21, 2023

ACH is most commonly used for direct deposit of payroll, payment of bills, and business-to-business payments. The ACH network then combines each message into a batch that is sent to the bank receiving the request (the receiving depository financial institution, or RDFI). If a transaction fails, the RDFI has up to 48 hours to report it.

ACH 52

ACH RDFI ACH Network ODFI 52

PYMNTS

SEPTEMBER 9, 2016

Use cases for Same Day ACH include account-to-account transfers and same-day payrolls, to name a few. Of the 420-plus customers, Rojas said about 140 are currently using one of the company’s two ACH products, dubbed ACH-ODFI and ACH-RDFI. If NACHA’s projections come to fruition, about 1.4

Same Day ACH 40

Same Day ACH ACH ODFI Faster Payments 40