Frequently Asked Questions
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What is an EFT?
EFT stands for Electronic Funds Transfer. An EFT is any financial transaction that is performed electronically, without use of paper checks, money orders, or physical currency. EFT transactions may be performed using a credit card, debit card, electronic images of physical checks, or bank account information. Some examples of EFTs you may see everyday are direct deposits such as payroll, automated bill payment services provided by your bank, or purchases done on the internet.
What is ACH?
The Automated Clearing House (ACH) network is a system through which banks process Electronic Funds Transfers (EFTs) that involve bank account information, such as checking or savings accounts. The ACH network supports a wide variety of types of EFTs with the exception of credit and debit cards.
What is Check 21?
Check 21 is another form of Electronic Funds Transfer (EFT). Check 21 involves processing of electronic check images to deposit funds directly into your bank account. With Check 21 your deposited funds become available faster than if a physical check was used.
Who is NACHA?
The National Automated Clearing House Association (NACHA) sets the rules and regulations for the ACH industry.
What is an ODFI and an RDFI?
The Originating Depository Financial Institution (ODFI) and the Receiving Depository Financial Institution (RDFI) are the banks involved in an Electronic Funds Transfer (EFT).
What services does Western Clearing Corporation provide?
For a full list and description of what Western Clearing Corporation can do for your business, please click here.
What is WebCheckExpress?
WebCheckExpress (WCE) is Western Clearing Corporation's gateway to processing Electronic Funds Transfers (EFTs).
What types of EFTs does WebCheckExpress support?
WebCheckExpress supports several types of EFTs, including credit cards, debit cards, Check 21 and ACH. All transactions are done through the same interface, with full reports on transaction status available.
What is a settlement?
A settlement is an electronic deposit made to your account for transactions (EFTs) entered into WebCheckExpress. Settlements will include all transactions entered into WebCheckExpress within a 24 business hour period that did not return. WebCheckExpress features fully automated settlements to ensure timely and accurate deposits to your account. Settlement periods vary depending on risk, volume, nature of the transactions (SEC code), and return rates.
What is an SEC code?
A Standard Entry Class (SEC) code is a three letter code used to denote the nature of an ACH transaction, such as how the payment is being made and how authorization to process transactions was given by the account holder. For a listing of common SEC codes, please click here.
What is a return?
A return is an EFT that was unable to process due to some type of error. For a listing of common ACH return codes, please click here.
What is a late return?
A return that is received by the Originating Depository Financial Institution (ODFI) after the settlement has been made is a late return. This results in a debit to the settlement account to collect funds for the late return.
What is an NOC? / Why does my return have a zero dollar amount?
A return with a zero dollar amount is a Notification of Change (NOC). NOCs are sent by the Receiving Depository Financial Institution (RDFI) to indicate that the account information used on that ACH transaction is no longer correct and needs to be updated for future transactions against that account. NOCs will include the corrected information for that account and are successful transactions. However, if transactions with the incorrect information continue to be sent, they will become returns.
What type of check imagers are compatible with WebCheckExpress?
Both MagTek and Cannon check imagers are compatible with WebCheckExpress. To view the imagers we recommend, please click here.
When does the ACH / Check 21 network operate?
The ACH and Check 21 networks operate during the hours the Federal Reserve is open. Transactions are processed from 8am to 5pm, Monday through Friday. Times will vary depending on the timezone of your business and that of the Originating Despository Financial Institution. The Federal Reserve is closed for all federal holidays, during these times the ACH and Check 21 networks are closed until the next banking day. For a complete list of holiday closures, please click here.
How do I open an account?
To open an account with Western Clearing Corporation, please fill out our email form here and a representative will contact you regarding our application process.