“ACH” Posts

What Are the Most Common ACH Reject Codes?

What Are the Most Common ACH Reject Codes?

ACH offers many advantages over paper checks, including faster notification of acceptance or failure. That said, ACH reject codes still come days after the transaction is initiated, so it’s important to know how to resolve these rejects and provide the right information to your customers. To quickly rectify these rejects, it’s vital to familiarize yourself with the most common ACH reject codes and how to solve them. 4 ACH Reject Codes to Know “R01 Insufficient Funds” means the available balance is not sufficient to cover the amount of the debit entry. After receiving this ACH reject code, there…

ACH Processing Ins and Outs

ACH Processing Ins and Outs

ACH stands for Automated Clearing House, a network managed by NACHA. The network enables the electronic transfer of funds from one bank to another by directly debiting a checking or savings account. It is commonly used for payroll, bills, tax payments and consumer or business-to-business (B2B) transactions. Many struggle to understand how ACH works and how to handle rejects. Let’s dive right in. Processing ACH To process consumer or B2B transactions, you simply enter the customer's routing and account numbers and run the transaction. From there, the customer's account is debited and your business receives its funds the next…