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BAI2 file format is a specialized and standardized set of codes used for cash management by the Bank Administration Institute (BAI). BAI2 files come to an account holder from a bank. The account holder then imports the files to a bookkeeping application and performs bank reconciliation if necessary.

Financial institutions offer two types of bank statements: (i) paper bank statements and (ii) electronic bank statements.

The NACHA text file format, eponymous with the US NACHA payment network, is used to transmit ACH payment instructions. Like Bacs' Standard 18, BAI2, and CFONB, the NACHA format is composed of 5 main record types that are the header, the trailer, the batch header and trailer, and the detailed transaction records.

Speed. Make and receive near real-time payments. Fast clearance times with settlement credits appearing in accounts typically within approximately 60 seconds. The 60 seconds processing time is the 99% Osko SLA, which is available when the sending and receiving accounts are capable of processing faster payments.

If you cannot open your BANK file correctly, try to right-click or long-press the file. Then click "Open with" and choose an application. You can also display a BANK file directly in the browser: Just drag the file onto this browser window and drop it.

The NACHA file format is applicable for corporate-to-consumer (PPDs ? Prearranged Payments & Deposits) as well as corporate-to-corporate (CCDs ? Cash Concentration & Disbursement, and CTX ? Corporate Trade Exchange) class of transactions.

What is EMV QR Code? QR codes are increasingly used for touchless payments. EMV QR Code technology enables merchants to provide their customers with a wide range of payment options using one QR code at checkout.