It’s been more than two years since Nacha members approved a new Nacha Operating Rule on account validation for Internet-initiated debits. With the change of the calendar to 2021, the effective date of March 19 is just about upon us.
In your list of new year’s resolutions, how about one to add your information to the ACH Contact Registry?
Teressa Frazier and her finance team had a routine. Immediately after worship service every Sunday at Victory Grace Center, they would walk around handing out envelopes containing pay checks to church staff and contractors.
New Year’s Day 2021 brings with it a change to the Nacha Operating Rules. If you haven’t already, the time to familiarize yourself is now.
File holders, you know who you are, but for those who don’t, allow us to explain.
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.
Nacha is requesting comment on a proposal to increase the dollar limit for Same Day ACH payments.
There is no doubt that COVID-19 has impacted the way financial institutions are handling payments and payment controls.