ACH code R41 refers to a return entry for an Automated Clearing House (ACH) transaction. Specifically, it indicates that a bank draft, also known as a cashier’s check, has been presented for payment, but the payment has been refused or “non-accepted” by the receiving bank.There are a few reasons why a bank might refuse to…
The ACH code R43 refers to “Non-Acceptance of Cash Letter Credit.” This code indicates that a receiving financial institution has refused to accept a cash letter credit entry. A cash letter credit entry is an ACH transaction to deposit funds into a bank account. It is typically used by businesses or organizations to make large…
ACH (Automated Clearing House) code R52 refers to a specific code used by banks and financial institutions in the United States to indicate that a transaction was rejected because the recipient does not have a checking account. This code is used in electronic funds transfer (EFT) transactions when the bank account provided by the recipient…
ACH code R53 indicates that the transaction was rejected because the account number referenced is not a valid savings account. Banks and financial institutions typically use this code to communicate the reason for dismissing an ACH debit or credit transaction.If you receive this code, the savings account number provided needs to be corrected, closed, or…
ACH code R51 refers to “Not sufficient funds” or “NSF” and indicates that a transaction was returned unpaid due to insufficient funds in the account. This can happen when a person or business tries to withdraw money from an arrangement that does not have enough funds to cover the transaction.When an ACH transaction is processed,…
ACH code R54 means “Incorrect account number.” Banks and other financial institutions use this code to indicate that the account number provided in an Automated Clearing House (ACH) transaction needs to be corrected or validated.When an ACH transaction is initiated, the account number provided must be accurate, or the transaction may be rejected or returned….