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Without a doubt, becoming an AAP is great for career growth, but Brenda Eckert, AAP, sees even more importance in achieving the accreditation. “At Wells Fargo we have a strong focus on the AAP. We feel there is so much value in helping our customers and …
With paper check use declining and electronic payment methods on the rise, the ACH Network has grown tremendously in recent years. A recent PaymentsJournal podcast unpacked how this growth continued into 2020, even as the pandemic disrupted regular …
[Podcast] The ACH Network is Not Just Payroll and B2B Transactions. It’s Branching Into New Segments, Too
Many are familiar with the ACH Network, which last year electronically moved 24.7 billion payments valued at nearly $56 trillion between accounts at different financial institutions for payments including large B2B transactions or payroll direct deposit. …
Doctors are increasingly making the switch to receive electronic claim payments, but for dentists it’s like pulling teeth. The new 2019 CAQH Index , released Jan. 21, estimates that 70% of medical claim payments were made electronically last year. That’s …
In 1974 people carried dimes to make calls from payphones and copies were made on a mimeograph. A lot has changed, and so has ACH. The network continues to grow and provide greater services to consumers and businesses. But first, a look at how it began. …
Businesses that originate pre-authorized ACH debits for services that have been interrupted may face an elevated risk of returns. This could be due to consumers who: 1) lack funds (i.e., NSF); 2) place stop payment orders with their own banks or credit …
ACH Operations Bulletin #2-2020: Nacha Issues Reminder on ACH Responsibilities to Financial institutions Potentially Impacted by Coronavirus
EXECUTIVE SUMMARY Nacha reminds financial institutions of the importance of reviewing their business continuity plans to ensure that they are prepared to maintain ACH payment processing capabilities in the event of possible disruptions. DISCUSSION In …
The Nacha Rules require an RDFI to accept a consumer’s Written Statement of Unauthorized Debit (WSUD), and also require that the WSUD be signed or similarly authenticated. In light of the current need for many RDFIs to reduce on-site staffing levels, and …
ACH Operations Bulletin #4-2020: Nacha Extends Effective Dates of Data Security Rule; Affirms Effective Dates of Other Rules
Executive Summary The upcoming effective dates of the Rule on Supplementing Data Security Requirements are extended by one year, to June 30, 2021 and June 30, 2022, respectively. The effective dates of other approved and upcoming Rules remain in effect. …