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What Is an ACH API and How Does It Work?

Stax

Join the Payments-Led Growth Movement Sign up to keep up-to-date with the latest trends in payments, vertical SaaS, and technology from industry experts. The operator will send the files to the recipient’s bank, which is called the RDFI (Receiving Depository Financial Institution). Q: What are some features included in API integration?

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ACH Reversals vs. ACH Returns: What’s the Difference?

EBizCharge

When this happens, the Receiving Depository Financial Institution (RDFI) automatically initiates a return of the funds to the Originating Depository Financial Institution (ODFI). Review and ACH return initiation: The RDFI will evaluate the transaction and identify the specific issue before initiating the return. What is an ACH return?

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ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

Stax

ACH is also the technology behind most peer-to-peer money transfer services in the US, including Paypal, Zelle, Cash App, and Venmo. 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).

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Will Same Day ACH Rollout Spark A Fraud Spike?

PYMNTS

Of the 420-plus customers, Rojas said about 140 are currently using one of the company’s two ACH products, dubbed ACH-ODFI and ACH-RDFI. ODFI focuses on the origination of transactions, while RDFI concentrates on receiving transactions. Just in the first four months of 2016, incidents of such scams increased by 270 percent.