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It’s called the ACH Contact Registry, but it’s being used for a whole lot more. Under the Nacha Rules, financial institutions must enter staff or departmental contacts for ACH operations and fraud/risk management. But there’s the option to list contacts …
You asked. We listened. Enhancements made! The next time you visit Nacha’s Risk Management Portal you’ll find several changes which are the direct results of industry input. It starts right at the login page. If you get an error message it now includes …
NASHVILLE, Tennessee —Could FedNow pave the way for more ACH settlement windows? A major stumbling block to expanding ACH hours is that the Federal Reserve’s National Settlement Service (NSS) for interbank settlement closes at the end of the business day …
One of the best weapons in the fight against fraudsters is sharing information. It can also be one of the trickiest issues to navigate, given the many privacy concerns. Nacha’s Risk Management Advisory Group (RMAG) is working to address this with open …
A new late night legend is about to start. But it’s not challenging Colbert, Fallon, Kimmel or SNL. Late night ACH file deliveries will begin for many financial institutions on Monday, Sept. 12. For others, the new part is Friday night file deliveries …
It’s anything but a quiet Friday at Nacha. There are some big changes taking effect today (March 19) at the ACH Network: Same Day ACH The latest enhancement to Same Day ACH begins. A third window for submitting same day payments gives ODFIs an extra two …
Even before the first phase of Same Day ACH was implemented nearly five years ago in September 2016, Nacha’s Risk Management Advisory Group (RMAG) had been evaluating potential risk increases and decreases due to Same Day ACH. Were the doom and gloom …
Any database is only as good as the information it contains, and the ACH Contact Registry is no exception. Although enforcement of the Registry Rule doesn’t begin until Aug. 1, Nacha is already making spot-checks for data quality. The Rule requires that …
Nearly five years ago, shortly after Nacha launched Same Day ACH, its Risk Management Advisory Group (RMAG) conducted a survey. It posed many questions to both Originating Depository Financial Institutions (ODFIs) and Receiving Depository Financial …