R62

What Is ACH Return Code R62?

ACH return codes are used to identify the reason an ACH payment has been returned by the recipient's bank. They make it easier for originating and receiving financial institutions to spot and communicate payment failures.

ACH Return Code R62, also known as "Return of Erroneous or Reversing Debit," is a standard code used in Automated Clearing House (ACH) transactions. This code indicates that the receiver of the transaction has been incorrectly credited during the ODFIs transaction reversal process.

R62 is generally an uncommon return code, as it applies to only two types of return scenarios, officially defined by Nacha as:

1. “A debit erroneous entry and a subsequent credit reversing entry are both transmitted to the receiver’s account. The debit erroneous entry is returned but the credit reversing entry is posted and made available to the receiver.
2. A credit erroneous entry and a subsequent debit reversing entry are both transmitted to the receiver’s account. The credit erroneous entry is posted and made available to the receiver, but the debit reversing entry is returned.”

How To Address ACH Return Code R62

Nacha prescribes separate rules for handling each return code since each one represents a unique scenario. ODFIs (Originating Depository Financial Institutions) and RDFIs (Receiving Depository Financial Institutions) are responsible for handling ACH return codes according to these rules.

R62 is a slightly complicated return code. If you encounter R62, you should reach out to the RDFI for clarity on the situation at hand and to see if there is anything you can do to immediately resolve the issue. It is important to remember that ACH reversals can only be done under certain circumstances, which means you may not be able to address R62 directly. Those circumstances are:

1. A transfer amount is incorrect
2. There is an error in the sender or receiver’s (or both) account numbers
3. There is a duplicate transfer
4. The date of the transfer is wrong

The involved financial institutions must address R62 within 5 business days of the return entry. Payees and billers will not be able to request reversals of transactions returned with R62—instead that responsibility falls on the payment sender, who will need to request the reversal of the relevant transactions from the involved financial institutions.

What Is An ACH Return Code?

ACH return codes identify the reason an ACH payment was returned by the recipient's bank. They make it easier for originating and receiving financial institutions to spot and communicate payment failures. Each code begins with 'R' followed by a two digit number. ACH return codes are standardized and maintained by NACHA, the governing body for the ACH network.