IT Examiner School, Providence, RI

Same Day ACH

For ACH transactions that need to be returned, faster processing of the  return is typically a “win‐win” for all parties. ODFIs and Originators now  can learn about problems sooner and RDFIs can have exceptions  processed and settled faster.  Same Day ACH allows for the same‐day processing of returns, regardless  of whether the forward transaction is a same‐day transaction or not.  Returns that are settled on a same‐day basis are not subject to the Same  Day Entry Fee and are not subject to the eligibility limit on forward Same  Day transactions (i.e., $25,000 per transaction; IAT).

Standard Entry Class Code (SEC Code)

CCD ‐ Corporate  Credit or Debit (Corporate only)

• This can be either a credit or debit where funds  are transferred between unrelated corporate  entities or transmitted as intra‐company cash  concentration and disbursement transactions

• Direct Deposit – a credit application that  transfers funds into a consumer’s account at the  RDFI and represents a variety of products such  as payroll, pension, etc. • Preauthorized Bill Payment – a debit  application; the consumer grants the company  authority to initiate periodic charges to the  consumer’s account as bills become due such as  insurance premiums, utility payments. 

PPD ‐ Prearranged Payment and  Deposit  (consumer only)