Season 3, Episode 4: Nacha Members Climb Capitol Hill
Tax payments are extremely important. Whether you’re an Originator or provider, you need to be making sure you’re using both the correct banking conventions and tax payment type code. That’s why Nacha is offering this short refresher.
ACH participants must take action to control risk in any payment system — including the ACH Network. The 6th edition explains the types of ACH payments risk, assesses the operational implications and provides sound business practices for developing an effective risk management program. In addition, case studies are included in each chapter to offer realistic examples to assist you in evaluating and implementing your risk management program.
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When I say “risk management,” most people immediately think of preventing fraud and stopping the bad guys. While this is a big part of what we do in risk management, it isn’t the whole picture.
Summertime and the living is easy. Unless, of course, you’re a young person spending those days (and maybe nights) hard at work earning money to pay for school. If that’s you, or you know someone who fits the description, Direct Deposit can make payday a whole lot easier.
When Nacha says “Direct Deposit Delivers” we mean it. A new paper from the federal government helps back that up.
Nacha is requesting industry comment on nine proposals to amend the Nacha Rules. These proposals concern risk management and are substantially oriented towards reducing the incidence of successful fraud and improving the recovery of funds within the ACH Network.
(L-R) Michael Herd, Nell Campbell-Drake, Jason Carone.
March 2023 marked the 5-year anniversary of the effective date of Phase 3 of the original Same Day ACH rules. Those rules provide for a review of the amount of the Same Day ACH fee as of this 5-year date.
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.
When Nacha says the modern ACH Network is thriving, we always have figures to back that up. The Federal Reserve recently gave us some additional evidence of just how accurate that statement is.
(L-R) Luis Guzman, Dave Glaser and Serenie Gagon
LAS VEGAS—You’re at the online checkout ready to complete your purchase. How do you pay?
LAS VEGAS—Expect the forward-thinking, collaborative approach to payments innovation to continue, as the evolution of the payments industry remains in full swing, Nacha leaders told the opening session of Smarter Faster Payments 2023.