ACH code R98 indicates that the receiving bank has rejected a payment transaction because the individual name or address associated with the account is invalid. This code is typically used for consumer accounts rather than business accounts.
There are several reasons why an individual name or address might be considered invalid. For example, the name on the account may not match the name provided in the payment instructions, or the address provided may need to be completed or updated.
If you receive an ACH code R98 error, you should review the payment instructions carefully to ensure that all information is accurate and up-to-date. You may need to contact the payment recipient to obtain the correct information.
It is important to note that ACH transactions are typically processed automatically by computer systems, and errors can occur if the data provided needs to be in the correct format or if there are discrepancies between different data fields. Double-checking all payment information before submitting the transaction can help avoid these errors.