ACH frees up time, money and energy so nonprofits can focus on what really matters: their mission.  In creating a new ACH toolkit for nonprofits, Nacha undertook research to see what resonated with donor coordinators and donors. The goal was to ensure the language we use assists nonprofits in their efforts to accept ACH donations.

In the upcoming weeks, there are important implementation dates and deadlines for ACH Network participants to be aware of. Three upcoming Rules go into effect June 30, while feedback to a Request for Comment are due July 1 and to a Request for Information are due July 16.

With the economic slowdown that resulted from the pandemic, the Nacha Risk Management Advisory Group (RMAG) updated its recommendations for ODFIs on sound business practice on exposure risk management. 

The new Warranty Claims Rule taking effect June 30 establishes specific time periods for RDFIs to make claims based on unauthorized entries and brings the ACH Network in line with other payment systems that have time limits.

When it comes to B2B, sometimes processing payments can be a job in and of itself. Moving the money isn’t complicated, but what’s involved before and after a payment is. Those are among the reasons why Nacha created Phixius.

In just over a year, a new Nacha Rule repurposing the R11 return reason code has proven to be quite successful.

If it’s been a while since you visited Nacha’s Resource Center for Corporates, you should take a look. There’s a lot there you and your customers can use.

A new Limitation on Warranty Claims Rule takes effect June 30, 2021, and Nacha's General Counsel said a key goal is “to give Originators more certainty on the time they may face claims on entries that they put into the ACH Network."

The Nacha Risk Management Advisory Group (RMAG) held a series of discussions on the topic of Third-Party Senders (TPSs) and the ODFIs that process for them. RMAG developed sound business practices for ODFIs for both the onboarding of new TPS clients and the ongoing monitoring of existing TPS clients.

“What is the difference between EFT, ACH and EDI?” We often get asked this question from business financial teams - even from seasoned financial pros. The quick answer is that all ACH (Automated Clearing House) payments are EFTs (Electronic Funds Transfers), but not all EFT payments are ACH. And EDI (Electronic Data Interchange) is a data format, not a payment.

Bringing ACH processing in-house is a major decision for any financial institution. There’s a lot to consider—including things you might not have considered.

July is traditionally when Nacha holds the Payments Institute. Last July was very different. This July will only be slightly different. 

Bulk subscriptions are now available for SPEAK, the on demand learning management platform from Nacha and its Payments Association partners. 

Under the Nacha Operating Rules, information in the ACH Contact Registry must be kept up to date. Is your financial institution's contact info current?

The Nacha Operating Rules are changed several times a year on average. The challenge of keeping up led a potential client to Azimuth GRC— and then Azimuth GRC to Nacha Consulting to help build a new offering to meet that need.

On June 30, Nacha will implement three new rules: Reversals and Enforcement, Supplementing Data Security, and Limitation on Warranty Claims.

Read our case study to see how the steward of the ACH Network is putting the power of ACH behind its accounts payable and accounts receivable.

April is National Volunteer Month and we’d like to recognize each of you who have devoted so much of your time and energy to Afinis Interoperability Standards. It is because of your valuable contributions that this organization is what it is today.

Learn more about the Limitation on Warranty Claims Rule effective June 30, 2021.

The Payments Innovation Alliance welcomes Melissa Swift, Global Leader for Workforce Transformation at Korn Ferry, for the continuation of an in-depth conversation on changing the way we work.