Return - ACH transactions can be returned for many reasons.The receiver is the individual or financial institution that is on the receiving end of a transaction (either receiving debited funds or having funds removed at the request of the originator). RDFI - Receiving Depository Financial Institution.Proof of authorization is the signature, voice recording or other assets you use to gather that consent. Proof of authorization - To comply with ACH payment requirements, merchants must obtain authorization from consumers that they approve of the funds being charged. ![]() The originator is the individual or institution that initiates a transaction. ODFI - Originating Depository Financial Institution.Hold - When a payment is authorized by the owner of an account and the bank in charge of that account reserves (or holds) the specified payment amount.ACH debits, like those initiated through the phone or online, count as EFTs. If a company can’t keep reserve funds in their merchant account, they cannot perform credits and instead must cut a paper check for refunds, offer discounts on future purchases, etc. Crediting an ACH transaction requires the merchant to have a reserve of funds in their merchant ACH account. Credit - If a batch has already been submitted to the ACH network but a transaction needs to be stopped from processing, you must credit the customer rather than voiding a payment. ![]() This type of return is called a chargeback.
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