Why ACH Business Services Have Been So Popular Till Now?

ach business services By TheEcheck

ACH payments are one of the most trusted and secure payment processing methods. Especially for a business merchant, it can help them to accept payments in one-time payment as well as in recurring payments. One of the significant benefits it offers to businesses is that it consists of very affordable payment processing fees while comparing to the credit card payments processing charges. Now you can kickstart your business by implementing ACH business services. TheEcheck is one of the best payment processing and merchant account providers. You can quickly get the ACH business services for your business by contacting us at +1-855-403-3855.

What Does ACH Business Services Mean?

An Automated Clearing House is termed to be ACH payment processing. There are various benefits that a business merchant can utilize by implementing ACH business services in their diversified payment services. ACH is an electronic payment method that provides the benefits of receiving payments straight from the customer’s checking or saving accounts. This uses a technique of creating batches of payments to get processed through the ach network of an automated clearinghouse. One of the main benefits that ACH business services offer is that a payment can be made in lump-sum as well as in recurring billing schedule. This provides benefits to customers to have their desired payment method, and for the merchants, it helps them to improve the merchant-customer relationship.

A business merchant can also save time and money a lot in terms of processing charges that need to be paid per transaction. In case if you are operating under the category of a high-risk business merchant  then, this can be very much beneficial for you.

What Are The NACHA Return Codes In ACH Business Services?

If any of the ACH transactions are declined, a return code is generated so that you can identify the reason for it. A small business merchant can easily identify these codes as they are starting with R. The list of NACHA return codes under the ACH business services is as following:

Code    Description

  • R01 – Insufficient funds
  • R02 – Bank account closed
  • R03 – No bank account/unable to locate the account
  • R04 – Invalid bank account number
  • R05 – Unauthorized Debit Transaction Entry 
  • R06 – Returned per ODFI request
  • R07 – Authorization revoked by Customer
  • R08 – Payment stopped
  • R09 – Uncollected funds
  • R10 – customer advises not authorized
  • R11 – Check truncation entry return
  • R12 – Branch sold to another RDFI
  • R13 – RDFI not qualified to participate
  • R14 – Representative payee is deceased. Or unable to continue in that capacity
  • R15 – Beneficiary or bank account holder
  • R16 – Bank account frozen
  • R17 – File record edit criteria
  • R18 – Improper effective entry date
  • R19 – Amount field error
  • R20 – Non-payment bank account
  • R21 – Invalid company ID number
  • R22 – Invalid individual ID number
  • R23 – Credit entry refused by the receiver
  • R24 – Duplicate entry
  • R25 – Addenda error
  • R26 – Mandatory field error
  • R27 – Trace number error
  • R28 – Transit routing number check digit error
  • R29 – Corporate Customer advises not authorized
  • R30 – RDFI not a participant in check truncation program
  • R31 – Permissible return entry
  • R32 – RDFI non-settlement
  • R33 – Return of XCK entry
  • R34 – Limited participation RDFI
  • R35 – Return of an improper debit entry

So if you want to save money while accepting direct payment services for your business, then you should contact us today for a merchant account solution that is specially designed according to your business needs. Get in touch with us at info@theecheck.com.