Why ACH SECs are important

Answered by:

Question:

As an RDFI (Receiving bank), should we be concerned about which Standard Entry Class Code (SEC) the ODFI (Originating Bank) uses to send ACH transactions?

Answer:

Yes, you should! Use of the wrong SEC by the ODFI and/or Originator can create aggravation and extra work for your bank (i.e. increased returns with associated costs and activities) and even affect return rights (e.g., consumer SEC posts to a business account).
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Learn more about Rayleen Pirnie’s webinar
ACH Basics: Part 1