3 replies to this topic

[markber]

I did not know that ACH transfers have transcodes (that allow a bank to distinguish different types of ACH transfers). But here they are (posted by markkundinger on FW):

21 = Demand Deposit Exception
22 = Demand Deposit
23 = Demand Deposit Prenotification
31 = Savings Deposit Exception
32 = Savings Deposit
33 = Savings Deposit Prenotification
26 = Demand Payment Exception
27 = Demand Payment
28 = Demand Payment Prenotification
36 = Savings Payment Exception
37 = Savings Payment
38 = Savings Payment Prenotification
41 = Automated General Ledger Deposit Exception or NOC for original transaction codes 42, 43, or 44
42 = Automated General Ledger Deposit (Credit)
43 = Prenotification of General Ledger Debit Authorization (non-dollar)
44 = Zero Dollar with remittance data (for CCD and CTX entries only)
46 = Automated General Ledger Payment Exception or NOC for original transaction codes 47, 48, or 49
47 = Automated General Ledger Deposit (Debit)
48 = Prenotification of General Ledger Debit Authorization (non-dollar)
49 = Zero Dollar with remittance data (for CCD and CTX entries only)
51 = Automated Loan Payment Exception or NOC for original transaction codes 52, 53, or 54
52 = Automated Loan Account Deposit (Credit)
53 = Prenotification of Loan Account Credit Authorization (non-dollar)
54 = Zero Dollar with remittance data (for CCD and CTX entries only; see Entry Class Code)
55 = Automated Loan Account Debit
56 = Automated Loan Payment Reversal Exception or NOC for original transaction code 55


source: fatwallet.com/t/52/701538/

[ichaelm]

I'm surprised that there's not a code for trial deposits (when another bank makes a small deposit of 50 cents or so which you must confirm before you can transfer $ into and out of the account from the external bank). The wording that they use on my accounts is ACH Account Verify.

[markber]

Does anybody see how a bank can use these codes to distinguish a PalPal ACH transfer from a direct deposit of somebody's salary? I have failed to figure this is out... so my guess is that it is not possible.

Why is this important? ... because many bank deals require a direct deposit.

[Bankgeek]

Does anybody see how a bank can use these codes to distinguish a PalPal ACH transfer from a direct deposit of somebody's salary? I have failed to figure this is out... so my guess is that it is not possible.

Why is this important? ... because many bank deals require a direct deposit.

I've done dozens of bank bonus deals and used paypal for every one of them and never had a problem. My guess is the banks just don't care. They want your money. Just one little thing, always send the same amount every month for whatever length is required ususally six months and make sure that's it's over the bank's minimum whatever that is.