NACHA Hosts New Terminated Originated Database Service

Posted March 30, 2016

NACHA is now hosting a Terminated Originator Database (TOD) service for interested financial institutions as an alternative to the TOD service provided by FIS. This service is open to all financial institutions, whether they subscribed to the FIS service or not. NACHA’s contract with FIS to host a TOD expired March 1, 2016. Subscribers to the FIS TOD service were sent a joint NACHA/FIS notice informing them of the change and offering an opportunity to terminate their subscriptions to the FIS service early in order to subscribe to the NACHA TOD. FIS will continue to support outstanding subscriptions through maturity for subscribers electing not to end their subscriptions. FIS TOD subscribers should notify FIS directly if they desire to terminate their subscriptions. 
NACHA remains committed to ensuring that the ACH Network maintains the highest level of safety and security for its participants by working with the industry to employ a comprehensive Risk Management Strategy. A key component in that strategy is the TOD service – and as ODFIs exchange information on terminated Originators or Third-Party Senders, they help to strengthen the Network. As a TOD subscriber, a financial institution performs part of its due diligence for KYC (“Know Your Customer”) by being able to add information on, investigate new and periodically verify Originators and Third-Party Senders.
Subscribing to the NACHA TOD Service
Financial institutions wishing to subscribe to the NACHA TOD service should direct requests to NACHA via email to NACHA will authenticate the request and provide the Terms of Use for the NACHA TOD service. There is no charge for the NACHA TOD service at this time. 

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