ACH Error R59 - What is this?

ACH code R59 is a return code used by banks in the United States to indicate that the payment was returned due to an incorrect bank name. This means that the bank receiving the payment could not process the payment because the name of the bank provided by the sender does not match the actual name of the bank.
In such cases, the payment will be returned to the sender, and the funds will not be transferred to the intended recipient. To avoid this situation, it is essential to double-check the bank name and other account details before initiating a payment. Confirming the details with the recipient before making the payment is also recommended, especially if it is your first time sending them money.