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the-ultimate-guide-to-ach-return-code!

ACH return codes are essential for banks and financial institutions to process payments efficiently and accurately.

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the-ultimate-guide-to-ach-return-code!

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  1. The Ultimate Guide to ACH return code! ACH return codes are essential for banks and financial institutions to process payments efficiently and accurately. They help identify the reason why an ACH transaction was rejected, returned, or unsuccessful. By understanding the various types of ACH return codes, companies can take appropriate action to resolve the issue quickly.

  2. ● Types Of ACH Return Code 1. R01 - Insufficient Funds: The bank account does not have enough funds to cover the transaction amount. 2. R02 - Account Closed: The bank account is closed and cannot be used to make payments or receive funds. 3. R03 - No Account/Unable To Locate Account: The bank account does not exist, or it has been closed.

  3. 4. R04 - Invalid Account Number: The account number provided is incorrect or invalid. 5. R05 - Unauthorized Debit to Consumer Account: There is no authorization for the transaction from the customer's end. 6. R06 - Returned Per ODFI Request: The financial institution has requested the Originator to return the transaction. 7. R07 - Authorization Revoked By Customer: The customer has revoked their authorization for the transaction.

  4. 8. R08 - Payment Stopped or Remarked by Originating Depository Financial Institution (ODFI): The Originating Depository Financial Institution has stopped or flagged the transaction. 9. R09 - Uncollected Funds: The transaction amount is not available in the bank account for processing. 10. R10 - Customer Advises Not Authorized: The customer has denied making the payment or authorizing it.

  5. Finally, ACH return codes provide an efficient way of processing transactions between financial institutions and customers. Companies should understand the different types of ACH return codes so that they can take action accordingly and resolve any issues quickly. It is also essential to keep records of all the return codes for future reference.

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