What must an ODFI provide to an RDFI when making a batch file transmission?

What must an ODFI provide to an RDFI when making a batch file transmission?

• A. A unique reference number
• B. A positive acknowledgment
• C. A written agreement
• D. A transaction history

Answer: (B)

An ODFI (Originating Depository Financial Institution) is required to provide a positive acknowledgment to the RDFI (Receiving Depository Financial Institution) when making a batch file transmission. This acknowledgment confirms that the RDFI has successfully received the transmission, ensuring the integrity of the ACH (Automated Clearing House) process. The acknowledgment serves as an assurance to the ODFI that the batch has been received without errors or issues, allowing for the smooth processing of transactions. The positive acknowledgment is a critical step in the ACH process as it helps in pinpointing any potential discrepancies and providing a mechanism for reconciliation. This confirmation is vital for maintaining the trust and efficiency within the electronic payment system, as both parties must be assured that the transmission has occurred successfully for the transactions to proceed. In contrast, while a unique reference number, a written agreement, or a transaction history may all be relevant in different contexts, they do not fulfill the specific requirement set forth in ACH rules regarding acknowledgment of batch file transmissions.

An ODFI (Originating Depository Financial Institution) is required to provide a positive acknowledgment to the RDFI (Receiving Depository Financial Institution) when making a batch file transmission. This acknowledgment confirms that the RDFI has successfully received the transmission, ensuring the integrity of the ACH (Automated Clearing House) process. The acknowledgment serves as an assurance to the ODFI that the batch has been received without errors or issues, allowing for the smooth processing of transactions.

The positive acknowledgment is a critical step in the ACH process as it helps in pinpointing any potential discrepancies and providing a mechanism for reconciliation. This confirmation is vital for maintaining the trust and efficiency within the electronic payment system, as both parties must be assured that the transmission has occurred successfully for the transactions to proceed.

In contrast, while a unique reference number, a written agreement, or a transaction history may all be relevant in different contexts, they do not fulfill the specific requirement set forth in ACH rules regarding acknowledgment of batch file transmissions.