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The person sitting next to you is over simplifying things then. There are far more reasons that an ACH can be reverted. > It cannot revert ACH because Sally di
by jsjohnst 9y ago
The person sitting next to you is over simplifying things then. There are far more reasons that an ACH can be reverted.
> It cannot revert ACH because Sally did "oops".
Quite a few of the defined ACH return codes[0] seem to be loosely in the “oops” you said wasn’t possible.
[0] https://gusto.com/ach_return_codes https://gusto.com/ach_return_codes
- notyourday 9y agoThat would be possible as a) first response b) bank-to-bank journaling based on the bank to bank agreement. But dont look at me - just try doing it and see how successful you would be.
- jsjohnst 9y agoI’ve issued stop payments on ACH transactions multiple times with success, so yes, it’s definitely possible to cause an ACH return.
- notyourday 9y agoHave you noticed that by doing that you have indemnified your bank?
- jsjohnst 9y agoSure, but that doesn’t change my point. What about closed accounts, invalid account numbers, or NSF? All three of those cause ACH rejects/reverts without any indemnity, yet weren’t in your list.
- notyourday 9y agoThose show up nearly immediately.