ACH credit issue for loan payment?

Seeking Advice
1

We’re having an issue with Truist. A commercial borrower is trying to make their monthly loan payment from their Truist commercial checking account. The payment keeps getting rejected with the message ‘no account on file.’ The SEC code is CCD, but it’s being processed as an ‘ACH credit.’

Our Deposit Operations team says the issue is with how Truist is originating the payment, and that commercial account holders usually have options to adjust the payment method. However, both the borrower and Truist insist the issue is on our end, and they say there’s no way for them to change how the payment is being sent. Our team says we can’t manually process it because it’s being rejected.

I have a lending background and limited deposit experience. Has anyone dealt with this type of issue before? Any insights would be greatly appreciated.

2

This might sound like a simple question, but does the bank holding the commercial loan actually allow one-time ACH payments? At my institution, we can set up recurring ACH payments, but one-time payments have to be done via wire. ACH payments would reject in the way you’re describing.

To answer your question about the credit: yes, an ACH payment sent from someone’s account will show on their end as a credit. It seems counterintuitive but is normal.

3

@JUDE
Yes, we regularly receive one-time ACH payments from other banks without any issues. However, this specific payment is showing on our Non-Post report as an ACH credit, which is odd.