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September 22, 2020
ACH Can Help Transit
American consumers and businesses make tens of billions of payments directly from their bank accounts each year using ACH. Most transit agencies operate on tight budgets, and with COVID-19 causing huge drops in ridership (and fare collections), every dollar counts more than…
ACH, Direct Deposit, Direct Payment via ACH
September 15, 2020
As the coronavirus pandemic raged across the country, the U.S. government turned to Direct Deposit to deliver millions of stimulus payments to Americans. On April 15, 2020, exactly as the IRS instructed, 81 million Americans woke up to find their stimulus payments safely in their bank accounts…
ACH, ACH Network, ACH Operations, Advocacy, Direct Deposit, Direct Payment via ACH, Faster Payments, Legislative and Regulatory
September 1, 2020
By Richard Oliver & George Warfel Jr.
Written by experienced experts from both the private and the government sector, The Story of Payments: How The Industrialization of Trust Created the Modern Payments System tells the story of how payments – between people, merchants, employers and…
ACH, Other Payments
August 17, 2020
ACH Can Lower Costs
With ACH, businesses – including subscription services – can lower overall costs vs. other payment types.
What is ACH?
ACH transactions include:
ACH Credit: An ACH transfer where funds are pushed into a bank account. The best example is used for payroll…
ACH, Direct Deposit, Direct Payment via ACH
November 11, 2019
Version 2.x
Version 2 is an architecturally improved version of the IFX Business Message Specification (BMS), including refined adaptation to SOA, a consistently applied object model and important new content IFX Version 2 continues the Forum’s commitment to a business-first, service-…
APIs
November 11, 2019
Diagram
This diagram shows the basic container hierarchy of every object in the IFX Standard. The data attributes commonly associated with an object are found mostly in the xxxInfo segment and the current state of the object is found in the xxxStatus segment.
Extended Discussion…
APIs
November 11, 2019
The IFX standard uses a service-oriented architecture (SOA) framework for interactions between businesses and applications. The framework exposes obvious design patterns, standard abbreviations and common message handling techniques that make it easy to work within any business or technical setting…
APIs
August 21, 2019
Myth 1: If payday is on a Friday, you won’t get your money until Monday (or later if Monday is a holiday)
Fact: If payday is Friday, payroll payments made by Direct Deposit are available in the employees’ account at the opening of business on Friday in virtually all cases. For example, if your…
ACH, Direct Deposit
June 25, 2019
Threats and fraud can be perpetuated through cyberattacks, email compromise, account takeover, social engineering, and even vendor impersonation fraud. While these threats are not about a direct compromise of the ACH Network or other payment systems, they exploit vulnerabilities or gaps in…
ACH, Risk Management
April 16, 2019
To file an ACH Rules Violation, you must be a Depository Financial Institution (DFI) or an ACH Operator. If you are not a DFI or Operator, please contact your financial institution and they can file on your behalf.
You have the option to download and print out the instructions for filling out…
Risk & Compliance