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

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). What is an ACH return?

ACH 52

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.

ACH 88

ACH Direct Deposit ACH Network Wire Transfer 88