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ACH - Coggle Diagram
ACH
Types of Consumer SEC
PPD
Direct Payment
POS
Point of Sale/ATM or debit card
RCK
Returned or insuff funds
WEB
Internet or Phone txn
TEL
Routing number, confirmation before pymt
ARC
Account receivable
POP
Cheque at the Point of Purchase
BOC
Back office cheque conversion
Debits
insurnce/Mortgage
POS
Internet/Phone txns
Truncated paper checks
Corprate txns
Any kind of payment
Corp, consumer or Govt
Formatted apt by Std entry class code
SEC code
Transaction code
Credit is 22
Debit is 27
SEC is 3 digit code
Are not ACH
Wires
Debit card payments
Credit card and LOC
ATM
Corp SEC
CIE
Credit only
CTX
Corp Trade exchange
IAT applies to it
CCD
Transfer inbet corp
Participants
Orginator
ODFI
RDFI
Benfeciary
ACH operator is the Federal Reserve bank
Governed by NACHA
Est in 1980
Authorisation can be obtained
Reg E for consumer txns and not corp Txns