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For those unfamiliar with ACH return codes, R1 typically refers to “insufficient funds,” while R5 refers to “unauthorized debit to consumer account using corporate SECcode,” meaning the accountholder did not authorize the transaction. ” Oregon-based Sila launched its ACHNow product in 2018. .
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.
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