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Today, the U.S. Internal Revenue Service (IRS) sent over 430,000 Advance Child Tax Credit (ACTC) payments by Same Day ACH to quickly and securely reach the majority of families that had received ACTC payments in July and August but didn’t receive their …
ACH Network Volume Up 7.7% in Third Quarter; Strong B2B Growth Continues as Healthcare Claims Pass 100M Mark
Contact: Media Relations With business-to-business (B2B) showing particularly strong growth, and healthcare claim payments setting a record, the modern ACH Network recorded a 7.7% increase in payment volume during the third quarter of 2021. There were …
Nacha and many Payment Associations provided comments on the notice of proposed rulemaking (the “Proposed Rule”) regarding the Federal Government Participation in the Automated Clearing House (“ACH”). The letter strongly supports the Fiscal Service’s …
RMAG’s Considerations for FIs Regarding Their Third-Party Senders’ Compliance with Audit and Risk Assessment Requirements
Nacha’s new Third-Party Sender Roles and Responsibilities Rule changes come into effect on September 30, 2022. The overarching purpose of the Rule change is to further clarify the roles and responsibilities of Third-Party Senders (TPSs) in the ACH Network …
ACH Network Volume Rises 6.1% in Fourth Quarter of 2021 as Healthcare Claim Payments and B2B Lead the Way
Contact: Media Relations Buoyed by strong gains in the healthcare and business-to-business sectors as well as Same Day ACH payments, ACH Network payment volume grew 6.1% during the fourth quarter of 2021. There were 7.5 billion ACH payments in the final …
Contact: Media Relations The modern ACH Network experienced significant growth in 2021, with 29.1 billion payments valued at $72.6 trillion, and Same Day ACH payment volume grew nearly 74%, new figures from Nacha show. ACH Network payment volume was up …
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 …
NASHVILLE, Tennessee —Same Day ACH might have started out like a tuxedo, but today it’s more like a pair of comfortable jeans. “We don’t need special occasions” to use Same Day ACH, said Joe W. Hussey, Managing Director at J.P. Morgan and Chair of the …
NASHVILLE, Tennessee —Same Day ACH only turned five last September, and as Michael Herd, Nacha Senior Vice President, ACH Network Administration, noted, that means “it’s still early.” After all, he said, from the time the ACH Network began “it took about …