Remove Consumer Remove ODFI Remove SEC Codes
article thumbnail

How to Stay Compliant with NACHA Requirements

EBizCharge

These preventative measures are critical for mitigating risks and protecting against the consequences of data theft, which can have far-reaching implications for consumers and financial institutions. These requirements can protect consumers by confirming their consent, prevent errors, and reduce the likelihood of disputed transactions.

NACHA 52
article thumbnail

ACH SEC Codes

Payment Savvy

However, we want to help you get a better understanding of certain terms – and that’s what we will do in this article with SEC codes. Below, you will find all the information you might need about ACH transactions, in which those codes are used, as well as what they are, and share with you some real life examples. .

article thumbnail

What Does Return Mobile ACH Payment Mean?

Payment Savvy

It is a kind of payment that goes from a commercial account holder to a consumer. There are five parties involved in making the payment processing go through: Originator This is a person who submits an ACH transfer to the ODFI. In rare cases, you may have the ACH Operator or ODFI do that. clearing, delivery, settlement).

ACH 52