Stax

JUNE 27, 2024

The utility company (the ODFI) passes the ACH files to the financial institution, which then sends a file with the payment request to the customer’s bank (the RDFI). Common uses for ACH payments Some common uses of ACH payments include: Payroll – Businesses all over the US use ACH transfers to pay their employees’ paychecks.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

EBizCharge

OCTOBER 17, 2023

The most common transactions sent over ACH include electronic funds transfer (EFT), employee payroll direct deposits, and electronic bill payments. When this happens, the Receiving Depository Financial Institution (RDFI) automatically initiates a return of the funds to the Originating Depository Financial Institution (ODFI).

ACH 52

ACH Returns RDFI ODFI 52

Payment Savvy

FEBRUARY 23, 2023

Common ACH direct deposits include payrolls, benefits, tax refunds, or interest payments. Receiving Depository Financial Institution (RDFI) The RDFI is the bank that is being charged or refunded. If there is a problem with the payment processing, it is usually the RDFI that sends an ACH return message.

ACH 52

ACH Returns RDFI ODFI 52