“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. 

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.

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.

You want more ACH payments from your customers because ACH:

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 always be easily identifiable. That’s why Nacha developed and recently updated the Third-Party Sender Identification Tool.

ACH payments provide clear benefits compared to check payments. If your company currently does not send ACH payments to vendors/suppliers, you can contact your bank for recommendations on how to get started with sending ACH payments. 

If you’ve experienced the “joy” of having teenagers matriculating through middle and high school, you’ve no doubt heard the question, “Why do I have to take algebra?” 

Many dentists have yet to experience the benefits of receiving insurance claim payments by ACH, but there are encouraging signs, a new report found.

You wouldn’t set out on a road trip without directions. After all, who wants to go 200 miles west only to discover you were supposed to go 100 miles east? So why would a business set up shop and work hard, without getting directions on the right way to handle payments?

Property management is a big business that handles a lot of money, with managers collecting rents from tenants and then forwarding the funds to owners. As payments increasingly move online and away from paper checks, a fair share of those funds flow through the ACH Network.

Consumers and businesses have come to trust the ACH Network as a secure way to receive their pay with Direct Deposit, pay bills through Direct Payment, donate to favorite causes and more. One factor that helps keep the ACH Network high quality is Nacha’s Rules enforcement.

When COVID-19 forced much of the world into lockdown it was unchartered territory for many, including Nacha Elevation Consulting. As it turns out, we’ve been busy in recent months, and noticed a common thread among our clients: they want anything tied to payments to be moved to all digital.

This is the final article in a series in which the Nacha Risk Management Advisory Group provides sound business practices on various risk management topics based on its experience and expertise.

This is the second in a series of articles in which the Nacha Risk Management Advisory Group provides sound business practices on various risk management topics based on its experience and expertise.

This is the first in a series of articles in which the Nacha Risk Management Advisory Group provides sound business practices on various risk management topics based on its experience and expertise.

There are banks that look at Third-Party Senders and—right or wrong—have their doubts. Wayne Gonzales gets it. 

At 36 pages, the criteria for becoming a Nacha Certified Third-Party Sender “is a little daunting when you first look at it.”

That’s what Becky Wagner thought—though she’s quick to add that Nacha helped at every step of the way.