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CCD
An SEC code is a three letter code that describes how a payment was authorized by the consumer or business receiving an ACH transaction. SEC stands for 'Standard Entry Class'. SEC codes are defined and maintained by NACHA, the governing body for the ACH network.
What is Standard Entry Class (SEC) code CCD?
SEC code CCD stands for Corporate Credit or Debit Entry. This SEC code is used in the context of Automated Clearing House (ACH) transactions, which are electronic payments or collections made through the ACH network.
CCD is used to transfer funds between a buyer's and a seller's bank accounts. Companies use SEC code CCD to consolidate funds from various locations into a central account. It can be initiated by either the buyer or seller and supports the inclusion of one addenda record. CCD entries are typically used for single-item payments.
What is the Transaction Type for SEC code CCD?
The transaction type for CCD is Credit or Debit Single Entry or Recurring Entry.
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