HERNDON, Virginia, Feb. 14, 2024 – Led by strong growth in Same Day ACH and business-to-business (B2B) payments, the ACH Network securely handled 31.5 billion payments valued at $80.1 trillion in 2023.
It’s been one of Nacha’s main focuses in recent years: Encouraging healthcare professionals—especially dentists—to receive claim payments by electronic funds transfer, or EFT. There’s new evidence that these efforts are paying off.
Access to the Rules & Guidelines helps to identify new opportunities to leverage the ACH Network to meet customer’s needs, while maintaining a clear understanding of network requirements.
The IRS and State Tax Refund Return Opt-In Programs were developed to make it easier for financial institutions to return tax refund credits in cases of suspected error or fraud.
A decade-long increase in medical and dental professionals receiving claim payments by EFT continued in 2023.
Please note this webinar was rescheduled from Jan. 5, 2024. Join us Mar. 22, 2024 for the Q1 2024 Quarterly Rules Update.
HERNDON, Virginia, Oct. 17, 2023 – Ongoing adoption of Same Day ACH and the continued increase in business-to-business (B2B) payments led the ACH Network to robust results in the third quarter of 2023.
Growing cybersecurity threats and regulatory concerns have amplified the need for increased operational resilience around all critical banking and payments functions.
It’s an issue vexing financial institutions big and small—while keeping Nacha’s National System of Fines busy handling disputes: proof of authorization.
It’s been more than three years now—July 2020, to be exact—since the ACH Contact Registry went live. And as recently as August of last year, Nacha let everyone know it’s running spot checks on the data within the registry.
Those checks are about to be ramped up.
You wouldn’t take a cross-country drive using an old paper map. So, why would you try to follow the Nacha Rules using an outdated guide?
A common myth that Nacha frequently addresses regards the settlement speed of ACH payments. If you read the industry literature, you’ll likely see references such as 2-3 days, or, my least favorite, 3-5 days.
No matter the industry, issues are going to come up between one party and another. ACH is no exception, and when financial institutions can’t work things out among themselves, Nacha’s System of Fines is available to adjudicate any alleged Nacha Rules violations.
For more than a decade, Nacha has actively encouraged healthcare providers to move away from checks and receive claim payments by ACH.
Summertime and the living is busy. At least for Nacha’s Industry Engagement team, which year-round promotes the benefits of ACH payments for specific industry use cases.
This 4th Edition update provides a review of the variations in legal requirements and processing obligations relating to the origination of ACH entries when a Third-Party Sender is involved in the origination of transactions through the ACH Network.
HERNDON, Virginia, July 25, 2023 – The use of Same Day ACH payments grew significantly in the first half of 2023, powering the modern ACH Network to help meet the nation’s needs for faster payments, Nacha reported today.
If an Originator realizes it has fallen victim to credit-push fraud, the only obvious fact may be that a payment didn’t reach the intended Receiver. Beyond that, a flurry of questions can create uncertainty at a time that calls for decisive action.