I was wondering how an ACH withdrawal works, specifically a withdrawal from an EMI that uses a pooled account to receive/send USD.
Specifically: if I make an ACH withdrawal from this EMI to my bank, what information will the latter receive?
Since the sender’s account is not personally in my name but is indeed a pooled account, will my withdrawal be considered a third-party deposit? Or can the EMI “declare” that the withdrawal was made under my name?
Specifically: if I make an ACH withdrawal from this EMI to my bank, what information will the latter receive?
Since the sender’s account is not personally in my name but is indeed a pooled account, will my withdrawal be considered a third-party deposit? Or can the EMI “declare” that the withdrawal was made under my name?