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EXECUTIVE SUMMARY The effective date of the new Same Day ACH processing window is deferred by 6 months until March 19, 2021. The Federal Reserve Board of Governors (“Fed Board”) has informed Nacha that it will not be able to provide timely notification of …
In 2000, Nacha implemented a set of rules and formatting requirements related to Point-of- Purchase (POP) entries – transactions designed specifically for use by Originators as a means to convert, at the point of purchase, a consumer’s check to an ACH …
In the aftermath of Hurricane Katrina, financial institutions are likely to receive numerous inquiries from their account holders regarding the processing of ACH debit entries to their accounts. It is anticipated that many of these questions may relate to …
On March 15, 2002 Nacha Operating Rules became effective for Accounts Receivable Entries (ARC). Under the ARC rules, a consumer check remitted to an accounts receivable location, such as a lockbox or dropbox, can be converted into an ACH debit when prior …
Nacha has recently become aware of an increasing number of fraudulent transactions being made over the ACH Network using the Telephone-Initiated Entry (TEL) application. The TEL application became effective in September 2001 as a means to provide a more …
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 …
Financial Institutions have been listing ACH contacts in Nacha’s ACH Contact Registry since the platform went live in July 2020. Most banks and credit unions are entering quality data that meets the requirements under the Nacha Operating Rules. That means …
Spring cleaning shouldn’t be limited to the basement and garage. When was the last time you checked your bank or credit union’s entries in the ACH Contact Registry? Now is a good time to go in and look at the contacts you have listed. “Changes to staff …
EXECUTIVE SUMMARY The Nacha Operating Rules provide for Person-to-Person (P2P) payments via ACH credit transactions. In this way, one person can transfer funds to another person. Nacha has become aware that some financial institutions and their service …