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ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

Stax

ODFI submits ACH file – The originator’s bank or payment processor, also known as the originating depository financial institution (ODFI) submits the ACH entry containing the payment details. Would you rather do this or automate the entire process and focus on other productive tasks?

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Taking The Y2K Fear Factor Out Of Same Day ACH

PYMNTS

As new rules about ACH credits and debits are introduced, some institutions can benefit from guidance to make sure their products and operations are up-to-date. The ACH rules are complicated, so we do find situations where there’s a certain understanding of the rules, but it’s not comprehensive,” he said.

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ACH SEC Codes

Payment Savvy

The most common ones are: an employer sending money to their employees’ checking accounts, a customer sending money to a business for a service or goods, a business sending payment to the supplier for products or materials, a taxpayer sending money to Internal Revenue Service (IRS) or local organization.