SEC Codes Settlement Tax Refunds 
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.
Payment Savvy
FEBRUARY 23, 2023
Common ACH direct deposits include payrolls, benefits, tax refunds, or interest payments. clearing, delivery, settlement). Receiving Depository Financial Institution (RDFI) The RDFI is the bank that is being charged or refunded. It is a kind of payment that goes from a commercial account holder to a consumer.
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