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What Is an ACH API and How Does It Work?

Stax

The way a typical ACH transfer works is as follows: You will initiate the transaction as the originator by sending a Nacha formatted data file containing information about the desired payment to your bank which is called the ODFI (Originating Depository Financial Institution). Q: What are the main elements of a typical ACH transfer?

ACH 88
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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.