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ENR
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 ENR?
SEC code ENR stands for Automated Enrollment 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.
ENR is used to transmit direct deposit enrollment information to federal agencies for benefits like Social Security and Supplemental Security Income. SEC code ENR is sent by a Receiving Depository Financial Institution (RDFI) to the appropriate federal agency.
What is the Transaction Type for SEC code ENR?
The transaction type for ENR is non-monetary.
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