When a direct deposit is sent to a closed bank account, it can be re-routed to another open bank account or returned to the sender. Some banks may hold the money in an unpostables account for seven business days before returning the money. Reasons Why… Read More »What Happens if Money Goes into a Closed Bank Account?

Have you wondered, what is an originator identification number? It is a 10-digit unique number assigned to companies and organizations that debit or credit funds through ACH. This unique originator ID is unique to every company that accepts payments. For example, if you are an… Read More »What is an Originator Identification Number (ACH Payments)

Did you recently see a debit or credit in your bank account and wondering what is IND ALL Savings MSP? This is a pre-authorized payment for an Industrial Alliance savings plan that you have setup. It can be for a RRSP or RESP with Industrial… Read More »What is IND ALL Savings MSP?