For technology firm Profituity, having the latest Nacha Rules is indispensable.  

“We feel at Profituity we have a really good handle on the basic Rules, but we are very curious about what’s changing and why, so that as we help our customers mitigate their risk and operate within the Rules, we can give them context,” said George McKee, Founder, President and CEO of Profituity, a Nacha Preferred Partner for ACH Experience with a focus on ACH Enablement and NSF Recovery.

McKee sees the Nacha Rules as “an integral part of our business.” He noted that many Profituity subscribers are third parties that have nested third-party relationships and pointed to a recent Rule change concerning Nested Third-Party Senders as an example of why it’s vital to have the latest version of the Nacha Rules. 

“They don’t quite understand the magnitude of the obligation of what you have to do if you have a Nested Third-Party. So for us to be able to go back to the Rules and explain to people, ‘This is how it works, this why it works this way,’ it really is vital. And it gives our team a tremendous measure of confidence in being able to relay that information,” said McKee. 

And when Profituity is unsure about a Rule, McKee said they turn to Nacha, which has been “very, very helpful.”

“If we have a question, it’s not just left up to our interpretation. We do have resources that we can reach out to—and do reach out to.”

McKee spoke on Nacha’s Payments SmartCast podcast, where he was joined by Jim Petkovits, Vice President of Education and Training at Wespay, who receives member inquiries about the Rules daily, and having the correct answer is job one.

“I’m in that book every single day looking for something, verifying the right Rule, the right reference if we’re trying to answer a question,” said Petkovits, who keeps the print version of the 2024 Nacha Operating Rules and Guidelines on his desk. 

“If you’re looking at something that doesn’t reference what’s happening today,” said Petkovits, “you’re going to be behind and you’re not going to be mitigating your risks the right way.”

Nacha’s Cari Conahan described the Rules as “a living document” in which language is constantly changing.

“We’re always working on issues or changes to serve the industry’s needs,” said Conahan, Senior Director & Group Manager, ACH Network Rules & Enforcement. “Either we’re responding to a need for a new product or service, or we may be addressing a current risk topic. There is always rulemaking that’s going on. Without the current Rules you don’t get access to those new Rules.”

“It’s critical to have the most up-to-date version.”

Listen to the complete podcast here.

The 2024 Nacha Operating Rules and Guidelines are available in the Nacha Store as well as through Wespay and other Payments Associations.