Nacha News

Nacha creates broadly adopted payment and financial messaging rules and standards through consensus-led governance, international collaboration, and innovative development practices. We continually advance the ubiquitous ACH Network and engage diverse stakeholders to accelerate a digital future of global financial services interoperability.

Featured News

Jane E. Larimer to be Next CEO of Nacha

Announcement Coincides with Refreshed Nacha Brand Uniting its Programs and Initiatives through New Visual Identity

ORLANDO, Fla., May 6, 2019 – The Nacha Board of Directors has selected Jane E. Larimer as the next President and CEO of Nacha effective July 1, 2019. The Board thanks Janet O. Estep, Nacha’s current President and CEO for her successful 11 years of leadership of Nacha and within the payments industry, and welcomes her assistance in the transition before she retires at the end of 2019.

Nacha Introduces the Nacha Corporate Experience

The Nacha Corporate Experience Combines Standards and Technology to Deliver a More Efficient Payments Experience for Today’s Businesses 

ORLANDO, Fla., May 6, 2019 – Today, Nacha introduces the Nacha Corporate Experience, a new way of demonstrating how businesses can more effectively exchange payments and information.

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Call it EFT or ACH or EDI – But They’re Different and It Matters

April 29th, 2019
What is the difference between EFT, ACH and EDI?  We here at Nacha often get asked this question from business financial teams - even from seasoned financial pros. The quick answer is that all ACH (Automated Clearing House) payments are EFTs (Electronic Funds Transfers), but not all EFT payments are ACH.  And EDI (Electronic Data Interchange) is not a payment. The longer explanation is that people are confused because different professions have different names for the same thing.

How Being Nacha Certified Changed Bankers’ Minds

April 29th, 2019
There are banks that look at Third-Party Senders and—right or wrong—have their doubts. Wayne Gonzales gets it.  In his experience, many Originating Depository Financial Institutions (ODFIs) “really aren’t interested in Third-Party Senders because of the additional compliance requirements. And they don’t know who the end customer is.” As Payment Data Systems’ senior vice president of risk management and compliance, Gonzales understood their point of view. He also set out to change it.

CFPB Takes a Fresh Look at Remittance Rule

April 26th, 2019
The Consumer Financial Protection Bureau has issued a Request for Information (RFI) regarding potential regulatory changes to the current remittance Rule. The RFI seeks information on two specific areas of the rule.

Afinis Interoperability Standards Names Inaugural Board of Directors and Officers

April 23rd, 2019
HERNDON, Va., April 23, 2019 – Afinis Interoperability Standards, a new member-led organization supported by Nacha, announced its inaugural Board of Directors and Board Officers. The Board of 10 members and three officers will guide the strategic direction of the organization, which is advancing financial industry standards, including API standardization and other financial services standards, across the U.S.

Nacha Announces Finalists for its 2019 Payments Awards

April 15th, 2019
Online voting for the winner of the Nacha Excellence in Payments Award now open; voting for the ACH Challenge Award will take place at PAYMENTS 2019 in Orlando HERNDON, Va., April 15, 2019 – Nacha announces the finalists for its 2019 Payments Awards, which celebrate proven accomplishment and leadership in the payments industry and recognize and reward the payments innovations defining the future.

New Guidance to Prepare for Same Day ACH Enhancements

April 10th, 2019
Three new enhancements to Same Day ACH are coming. The first takes effect in just a matter of months—September 20, 2019, to be precise. To help with preparations, Nacha has created three new guidance sheets. Each is a two page PDF available for download. There are versions for Originating Depository Financial Intuitions (ODFIs), Receiving Depository Financial Intuitions (RDFIs), and Processors.  You will also find them in our Same Day ACH Resource Center, which has a wealth of helpful information. 

FDIC’s McWilliams Wants Bank Regulators to Have a Common Standard for Small-Dollar Loans

April 5th, 2019
Federal regulators need to create consistent guidance on the standards for bank small-dollar loan offerings. FDIC Chair, Jelena McWilliams stated that banks have been unwilling to get involved in the small-dollar loan market is because the three main federal banking regulators, the FDIC, the Federal Reserve and the Office of the Comptroller of the Currency, all have different guidelines in place for such product offerings.

Nacha Announces Transactis as a Preferred Partner for API Enablement of Electronic Bill Payments

April 3rd, 2019
HERNDON, Va. — April 3, 2019 — Transactis is a new Nacha Preferred Partner for API Enablement of Electronic Bill Payments. Nacha Preferred Partners are a select group of innovators that contribute to Nacha’s strategic efforts in support of the payments ecosystem by removing friction, increasing ease, improving cash flow accessibility and efficiency, as well as supporting sound risk management and security for ACH payments.

How Same Day ACH Works for ‘The Forgotten Gig Economy’

April 2nd, 2019
You hear a lot about how the gig economy is perfect for Same Day ACH. And it is. But Jessica Koenig also keeps in mind what she calls “the forgotten gig economy.” “Before there was Uber and Lyft marketplace apps you had consumer direct sales firms with independent sales reps and owner-operator truck drivers. There are plenty of other use cases with independent contractors or sole proprietors that need to get paid, but don’t fit into this app and marketplace phenomenon,” said Koenig, founder and chief product officer at KyckGlobal.

Nacha Government Relations Update – April 4, 2019

April 2nd, 2019
NACHA's Government Relations update provides insight on policy matters at the federal and state level that could impact the ACH Network. In this edition: House working towards cannabis banking relief; House and Senate introduce legislation to eliminate remotely created checks; and more.

House Working Toward Cannabis Banking Relief

March 29th, 2019
The House of Representatives is inching closer to voting on a banking cannabis business relief bill after the Financial Services Committee voted to move the bill out of committee to a full House vote.