Remove ACH Network Remove ACH Operations Remove Participant
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Why FedNow Will Slow Real-Time Payments

PYMNTS

Senator Elizabeth Warren asks in a campaign ad, ignoring the fact that 93 percent of working Americans have their checks directly deposited into their bank accounts – ready for use on payday – using the ACH network. Direct deposit over the ACH network eliminated that friction and got them earlier access to those funds.

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ACH SEC Codes

Payment Savvy

Before diving deeper into SEC codes, let’s take a minute to better understand ACH transactions – if you’ve already worked with ACH transactions and have an idea about what is involved in them, you can skip this section and go straight to SEC codes. When it comes to an ACH transaction, there are two main participants.