Q.) A business account holder recently asked if we “accept EDI transactions”. Do all RDFI’s have to accept transactions that include payment related data? And if so, how does the data post to the business accounts?
A.) Payments will post as any other corporate ACH transaction; however, Receiving Depository Financial Institutions (RDFIs) must have procedures in place to respond to requests from Receivers for the payment-related information transmitted with CCD, CTX and CIE entries, and IAT entries to non-consumer accounts entries (by opening of business day on the second banking day following Settlement Date). The method the RDFI uses to provide the information is not prescribed by the ACH Rules. Instead, RDFI and Receiver determine the medium to be used (i.e. human readable or machine-readable format). Additional information can be found in the 2021 ACH Nacha Operating Rules & Guidelines, Page OG100, Section III, Addenda Record Processing.
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