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On July 22, 2019, U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN), the Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and National Credit Union Administration issued a joint statement with …
You want more ACH payments from your customers because ACH: Costs less than check and card payments; Requires less labor to process than checks and you can’t increase hires (or have to decrease head count); Clears quickly for improved cash flow; Provides …
When you need a hand from someone at another financial institution, finding that someone can be daunting. But things are about to change. A new Rule creates the ACH Contact Registry, which opens July 1, 2020. It’s going to make locating the right person …
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 …
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 …
In a recent interview with PaymentsJournal, Nacha’s Jane Larimer discusses how the ACH Network delivered stimulus payments on time. As part of the CARES Act, by the end of August, the government had distributed $270 billion in funds in stimulus …
With one new Nacha Rule just taking effect last month and two others right behind in September, Nacha has a wealth of new and refreshed materials to help you along. On June 30, Phase Two of Supplementing Data Security Requirements took effect, expanding …
May has a lot going on, what with Mother’s Day, the NHL playoffs, and Memorial Day. May is also Direct Deposit Month, and while not as beloved as mom, it’s important in its own right. Most Americans know Direct Deposit as the best way to get paid. Your …
Like 8-track tapes and white disco suits, Appendix 8 of the Nacha Operating Rules has faded into history. Many were using it as a guide for ACH audits, which Nacha acknowledged in the title of its recent webinar, “Curing the Appendicitis After Removing …