Stax

JUNE 27, 2024

In this blog post, we’ll review both ACH payments and wire transfers individually, and then see how they stack up against each other to help you choose the suitable payment option for your business. While they’re both electronic modes of payment, they have stark contrasts when it comes to their processes.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

EBizCharge

OCTOBER 17, 2023

When this happens, the Receiving Depository Financial Institution (RDFI) automatically initiates a return of the funds to the Originating Depository Financial Institution (ODFI). An ACH return must go through a series of steps to return the funds to the ODFI once it meets the criteria for a return. How do ACH returns work?

ACH 52

ACH Returns RDFI ODFI 52

EBizCharge

JULY 16, 2024

This includes both Originating Depository Financial Institutions (ODFIs) and Receiving Depository Financial Institutions (RDFIs). This includes both Originating Depository Financial Institutions (ODFIs) and Receiving Depository Financial Institutions (RDFIs). How often are NACHA rules updated? How often are NACHA rules updated?

NACHA 52

NACHA Nacha Rules ACH Network ACH 52

Payment Savvy

FEBRUARY 23, 2023

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. Originating Depository Financial Institution (ODFI) The ODFI receives the request from the Originator and passes it to the ACH Operator. clearing, delivery, settlement).

ACH 52

ACH Returns RDFI ODFI 52

Payment Savvy

NOVEMBER 10, 2022

There’s the ODFI, which stands for Originating Depository Financial Institution, and there’s the RDFI, which stands for Receiving Depository Financial Institution. To put it simply, the ODFIs are the financial institutions that send the transaction, while RDFIs are the institutions that receive it.

SEC Codes 52

SEC Codes ACH ODFI Wire Transfer 52