![]() ![]() ![]() On the following business day, the clearinghouse will sort ACH transactions and send them to the correct bank.After the ODFI has batch processed and compiled the ACH files, these files are then sent to a clearinghouse, either the Federal Reserve or EPN (the Electronic Payments Network).Once WaterWay has confirmed their customer’s checking account, the company will request payment by sending ACH files to their partner bank, the ODFI.Let’s walk through an ACH debit example using online bill pay for a fictional utility company called WaterWay: ACH debit is commonly used by businesses that collect recurring payments from consumers. When it receives the ACH files, the employee’s bank will deposit the paycheck into a settlement account, and the funds will likely appear as “Pending,” until the payment settles.Īn ACH debit runs through the same process but in reverse. ![]() The employee’s bank, as the RDFI, will receive the ACH credit request from BestJob’s bank.
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