ACH Error R74 - What is this?

ACH code R74 indicates that the ACH transaction was rejected by the receiving depository financial institution (RDFI) due to an incorrect combination of the routing number and account number provided in the transaction. The RDFI could not identify the receiving bank account or complete the transaction.
This error could be caused by several factors, such as a typo in the routing number or account number, an outdated or invalid bank account, or a mismatch between the account holder’s name and the account number. Ensuring that the correct routing and account numbers are entered when initiating an ACH transaction is vital to avoid the R74 error.
If you receive an R74 error code, you should check the routing and account numbers to ensure they are correct and contact the receiving bank to verify the information if necessary. Correcting the error and reinitiating the transaction is crucial to ensure the payment is processed correctly.