Which NACHA standard entry class codes are used for FedGlobal ACH Payments items?
International payments are formatted using the IAT (International ACH Transaction) Standard Entry Class (SEC) code. This SEC code and fields in the Company/Batch Header Record allow cross-border payments to be readily identified. The Company/Batch Header Record contains information specific to international payments, including data related to foreign exchange, origination and destination currencies, and destination country.
Related Questions
- When does the foreign receiving financial institution receive settlement for the FedGlobal ACH Payments items from the gateway operator?
- What is the deposit deadline and how are FedGlobal ACH Payments items to be handled?
- Which NACHA standard entry class codes are used for FedGlobal ACH Payments items?
