Tustin University' Bank, PNC is the Receiving Depository Financial Institution (RDFI).Ģa: ACH Credit Received by Cop圜raft (to get paid by Super Salon).In this case, Cop圜raft is originating an ACH Debit, where Cop圜raft, instructs its bank to debit Tustin University's PNC Bank Account, via an ACH Transfer.Cop圜raft instructs its bank to pull a payment via ACH from Tustin University's PNC Bank Account Number and Routing number.
Wholesale Paper's Bank, Chase is the Receiving Depository Financial Institution (RDFI).ġb: ACH Debit Originated by Cop圜raft (to get paid by Tustin University).
Cop圜raft's Bank is the Originating Depository Financial Institution (ODFI). In this case, Cop圜raft is originating an ACH Credit, where Cop圜raft, instructs its bank to credit Wholesale Paper's Chase Bank, via an ACH Transfer. Cop圜raft instructs its bank to make a payment via ACH to Wholesale Paper's Chase Bank Account Number and Routing number. This article breaks it down into four possible ACH transactions originated and received by Cop圜raft.ġa: ACH Credit Originated by Cop圜raft (to pay Wholesale Paper) Tustin University has a bank account at PNC. Customer Tustin University for recurring print jobs. Super Salon has an account at Wells Fargo. Customer Super Salon for printing flyers one-off. Utility company TG&E for recurring monthly utilities. Wholesale Paper has a bank account at Chase. Supplier Wholesale Paper for one-off supplies. Cop圜raft only uses ACH to pay and get paid. Like any business, Cop圜raft pays its vendors and gets paid by its customers. Next, you can use the Solid ACH infrastructure (ACH APIs and Webhooks) to originate and receive ACH transfers.įor example, an account is opened for Cop圜raft LLC on the Solid Platform. Using Solid's Create an Account API, you can open an account. While ACH transactions can be somewhat complex, understanding the possible types of ACH transactions is essential.
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