September 22, 2008
This policy addresses the importance of Originating Depository Financial Institutions (ODFIs) registering with Nacha their direct access relationships for ACH debit transactions, and following prudent risk management techniques including adherence to best practices for the duration of these relationships.
August 1, 2008
The effective date of Nacha’s Rules Interpretation (“Interpretation”) on the Proper Use of SEC Codes and the Aggregation of Transactions (see ACH Operations Bulletin, November 9, 2007) is extended to August 4, 2008.
July 31, 2008
Nacha’s Board of Directors has extended the effective date of the International ACH Transaction (IAT) rules and formats for six months, to September 18, 2009.
July 30, 2008
This policy addresses the importance of DFIs registering their direct access relationships with Nacha and following prudent risk mitigation techniques, including adherence to best practices, for the duration of these relationships.
Synovus Financial Corporation Receives Nacha’S 2008 George Mitchell Payments System Excellence Award
May 20, 2008
LAS VEGAS—May 20, 2008— Nacha—The Electronic Payments Association announced today that Synovus Financial Corporation has been awarded its 2008 George Mitchell Payments Systems Excellence Award.
May 20, 2008
LAS VEGAS, May 20, 2008 — Nacha—The Electronic Payments Association awarded its 2008 Kevin O’Brien ACH Quality Award to TeleCheck Services, Inc., a First Data company, for its leadership and contributions to advancing the highest standards of efficiency and ACH Network quality.
November 9, 2007
This ACH Operations Bulletin describes a written interpretation (“Interpretation”) of the Nacha Operating Rules (“Rules”) approved by the Nacha Board of Directors on November 7, 2007.
September 19, 2007
This ACH Operations Bulletin announces the suspension of the implementation date of September 21, 2007 for an amendment to the NACHA Operating Rules that would establish a formatting convention for use of the Individual Identification Number Field when CIE Entries are used for online consumer Federal tax payments.
August 28, 2007
This ACH Operations Bulletin describes Nacha’s Interim Policy on ACH Data Breach Notification Requirements (“Interim Policy”), identifies the policy’s requirements for Originating Depository Financial Institutions (“ODFI”s), and provides guidance to Receiving Depository Financial Institutions (“RDFI”s).
April 18, 2007
George Thomas, AAP, is the recipient of Nacha’s 2007 Kevin O’Brien ACH Quality Award. During his 25 years of service to the financial services industry, Mr. Thomas was known as a hardworking visionary, dedicated to quality, excellence, and risk management in the ACH Network and other payment systems. “George was one of the earliest supporters of ACH transaction funding for risk management, quality improvement and other network administrative programs,” said Elliott C. McEntee, President and CEO of Nacha.
April 15, 2007
April 15-18, 2007 - Chicago, Ill - Nacha - The Electronic Payments Association presents the 2007 George Mitchell Payments System Excellence Award to Paul W. Finch, Sr., in recognition of his career contributions to the advancement of the electronic payments industry, the ACH Network, and Nacha. “With the recent effective date of Nacha’s new back office conversion rules, it is fitting that we honor Paul Finch, Sr., who did so much to lay the groundwork for this application,” said Elliott C.
Formal Rules Interpretation on the Proper Use of Standard Entry Class Codes for Check Conversion Entries
March 13, 2007
This Operations Bulletin has been issued in accordance with Section 13.3 (Interpretative Rules) of the Nacha Operating Rules to clarify the Rules with respect to the exclusive use of the BOC and POP formats for the electronic conversion of checks accepted at the point of purchase.