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No one at a financial institution wakes up one morning and decides to start originating ACH payments. There’s a lot that goes into it, as Sunrise Family Credit Union can attest. In fact, their board had long wanted SFCU to become an Originating Depository …
As we forge our path into 2025, it can be helpful to take a moment to reflect on recent developments and also consider new, emerging trends. For this edition of Notes from the Field, we are focusing on two main topics: AI and Nacha Rules updates. AI is …
Season 3, Episode 6: A Valuable Tool for ACH Compliance Nacha recently updated the ACH Compliance Manual , which offers crisp insights into authorizations, processing and more from Nacha’s subject matter experts. Hear from Nacha’s Danita Tyrrell, Senior …
Season 3, Episode 8: The What and the Why Behind the Value of the 2024 Nacha Operating Rules & Guidelines Nacha just released the 2024 edition of the Nacha Operating Rules & Guidelines. Listen to our latest podcast with Cari Conahan, Senior Director & …
The Nacha Rules require financial institutions and Third-Party Senders (TPSs) to conduct Rules Compliance Audits and risk assessments of their ACH activities. The Rules also state an ODFI is responsible for all Entries originated through the ODFI, whether …
Executive Summary The ACH Network is a payment system that reaches all U.S. bank and credit union accounts. ACH payments are routed utilizing the routing transit number (“routing number” or “RTN”) of the Receiving Depository Financial Institution (RDFI). …
Invoking the Exemption from the Funds Availability Requirement, and the RDFI’s Associated Notification Requirement
One of the new Rules that went into effect on Oct. 1, 2024, expands an RDFI’s voluntary exemption from the funds availability requirement of the Nacha Operating Rules. The Rule also requires an RDFI to take reasonable steps to notify an ODFI if the RDFI …
It’s still early days, but Ross McFerrin sees great potential for pay by bank. “What’s really going to drive ACH or pay by bank in the U.S. is value. Whether that’s flexibility, whether that’s incentives, whether that’s something that that end user is …