what is ach reclamations?

1 Answer

  • 1 decade ago
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    ACH = Automated Clearing House. Basically, this includes electronic payments, whether they're deposits to an account or payments from it. Sometimes transactions need to be reversed. The most common reason is that somebody died and the government takes back the social security payment that was made right before they died. However, reclamations also happen because they original transaction was an error, the account holder decided to cancel it, or for many other reasons.

    Source(s): Used to run ACH department in a bank
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