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What kind of return code does rdfi return?


Asked by Ruth Noble on Dec 11, 2021 FAQ



- RDFI, at its discretion, returns an XCK entry (code only used for XCK returns)]
In this manner,
The RDFI must return the rescinded transaction to its ACH Operator by its deposit deadline for the adjustment entry to be made available to the ODFI no later than the opening of business on the banking day following the sixtieth calendar day following the Settlement Date of the original entry.
Accordingly, If the RDFI agrees to return the entry, the ODFI must indemnify the RDFI according to Article Five (Return, Adjustment, Correction, and Acknowledgment of Entries and Entry Information) of these Rules.
Thereof,
With each ACH transaction, there’s an Originating Depository Financial Institution (ODFI) and a Receiving Depository Financial Institution (RDFI). The ODFI has an agreement with an ACH Operator (either the Federal Reserve or The Clearing House) to transmit entries into the ACH Network on behalf of the Originator.
Likewise,
[The RDFI determines that a stop payment order has been placed on the item to which the PPD Accounts Receivable Truncated Check Debit Entry relates.] Contact your customer and resolve any issues that caused the transaction to be stopped. You can re-enter the returned transaction again with proper authorization from your customer.