Stax

JUNE 27, 2024

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. Secure and reliable ACH payments are more secure than wire and card transactions.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

PYMNTS

FEBRUARY 9, 2017

As T+3 was being implemented in the early 90s, the concept of using ACH was raised, but there were two problems that, at the time, were insurmountable. As the NACHA Rules have evolved, so has the concept that the Standard Entry Class can be used to determine how an ACH Entry is handled.”

Reg E 46

Reg E Security Transactions Third-Party Sender 46

PYMNTS

APRIL 6, 2017

While these new ACH offerings are promising to quicken the pace of monetary transactions, the changes are also bringing new rules and regulations that directly impact how banks and other financial players operate. For example, he said some NEACH members were surprised when some Same Day ACH entries did not post by 5 p.m.

Same Day ACH 40

Same Day ACH ACH ACH Rules Rules 40

Payment Savvy

NOVEMBER 10, 2022

The ACH network (Automated Clearing House network) allows banks to work with each other without the need to have their own network. Instead, they are under the jurisdiction of NACHA (The National Automated Clearing House Association), which establishes the rules and regulations that all the institutions that are part of the network follow.

SEC Codes 52

SEC Codes ACH ODFI Wire Transfer 52