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CTX
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 CTX?
SEC code CTX stands for Corporate Trade Exchange. 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.
CTX 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. Like CCD, CTX can be initiated by either the buyer or seller, but CTX supports multiple addenda.
What is the Transaction Type for SEC code CTX?
The transaction type for CTX is Credit or Debit Single Entry or Recurring Entry.
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