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After giving Uncle Sam a loan out of your pay it’s nice to get a tax refund. And so much the better when it arrives quickly and is immediately available to use. Direct Deposit accomplishes that, and new stats show it’s being used by more Americans this …
Go to tool. Tool Helps FIs Understand Role as Intermediary When a transaction involves the use of a payment intermediary (e.g., a Third-Party Service Provider that performs some aspect of payment processing on behalf of a client), those ACH roles may not …
Nacha has approved Nacha Certified status for Bill.com (NYSE: BILL), a leading cloud-based software platform which facilitates ACH payments. Nacha Certified is a voluntary program for Third-Party Senders in the ACH Network, such as Bill.com. By meeting …
New Financial Institutions (FIs) get new routing numbers (a unique nine digit identifier designating U.S. FIs and used for routing ACH transactions). Established FIs can get new or additional routing numbers. Routing numbers can change with mergers and …
When Nacha set out to revamp its Nonprofit Toolkit , the goal was to make it as helpful as possible for nonprofits looking to start or enhance a donation program using electronic bank transfer (ACH). An expert in the field of charitable giving is …
2021 is shaping up to be a banner year for healthcare volume on the ACH Network, as medical and dental providers increasingly recognize the advantages of electronic claim payments. “There were 361 million healthcare EFTs through the ACH Network through …
In just five short years, Same Day ACH – Nacha’s faster payments solution – has gained remarkable traction, with the payments community putting it to work in several use cases. In a recent podcast interview with PaymentsJournal, Nacha’s Michael Herd …
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 …
It’s often said that the Nacha Operating Rules are a living document, always changing, never stagnant. There was abundant proof of that in 2021, as seven Rules changes took effect, and 2022 is shaping up to be another busy year. First, let’s look at some …