Recorded Oct. 14, 2020
Recording available until May 15, 2021
AAP & APRP credits: 1.2

In order to help prevent fraud on the ACH Network and protect accounts from receiving fraudulent or incorrect unauthorized payments, Nacha has supplemented the requirements for online-initiated payments. This industry-voted rule change takes effect on March 19, 2021. If your organization allows consumers to make purchases or payments via the internet or mobile devices and directly, electronically withdraws payments from their checking accounts, this rule applies to you:

• All industries, any size
• Governments included (Consumer to Business and Consumer to Government payments)

Beginning in March, it will be required that the first time a consumer checking account is used for an electronic (ACH) payment, if the payment is taken or initiated over an online channel, the account number must be validated before sending the transaction. This could be the first time a consumer customer makes a payment, or when a consumer makes an online change to the account number being used for payments. During this webinar, end users will learn if the Rule could impact them, what the Rule covers and doesn’t, and how to prepare for implementation.

Speakers:

Debbie Barr, AAP, CTP, Senior Director, ACH Network Rules Process, Nacha

Amy K. Morris, Senior Director, ACH Network Rules, Nacha

Pricing:
Members: $75
Nonmembers: $95
Corporate End-Users: Free