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Editor’s Note: This is the first in a two-part series on an upcoming enhancement to Same Day ACH. On March 20, 2020, the dollar amount limit per payment increases from $25,000 to $100,000. Today we look at what Originators can do to prepare. Same Day ACH …
The day on the calendar with the big circle around it is finally here. This Friday, March 20, 2020, the dollar amount allowable per Same Day ACH payment quadruples to $100,000. As Nacha president and CEO Jane Larimer has said, “Same Day ACH is an …
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 …
There are banks that look at Third-Party Senders and—right or wrong—have their doubts. Wayne Gonzales gets it. In his experience, many Originating Depository Financial Institutions (ODFIs) “really aren’t interested in Third-Party Senders because of the …
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 …
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 …
Once scammers get a victim’s money, they’re far from done. They often need to move the money—and they’re not going to do it themselves. That’s where they employ the help of others—some knowingly, but many not: money mules. “A money mule is someone who …
Payroll impersonation and redirection fraud is a fact of life today, but there’s a new way to help fight it. As part of its ongoing commitment to help protect against fraud, Nacha worked with payroll providers, Receiving Depository Financial Institutions …
Nacha applauds the Federal Reserve Board of Governors for issuing its proposal to extend its settlement services to support Same Day ACH enhancements with later settlement hours. The industry has spoken loudly in support of the expansion of Same Day ACH, …