If you have a corporate bank account, you need to authorize other companies to move money into or out of your bank account. If an unauthorized company tries to put money into your account or take money out of your account, your bank puts the funds on hold with a return code of R29.
To authorize us to move money into and out of your account, provide your bank with the following information:
Company Name: Merchant Service
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Tags: return code, hold funds, funds, authorize, bank, corporate bank account, r29, irs