The Nacha Operating Rules and Guidelines require that all participating depository financial institutions, third-party senders, and third-party service providers that provide ACH services to the RDFI or ODFI, conduct an [...]
On September 16th, the Micro Entries Rule took effect which defines and standardizes practices and formatting of Micro-Entries, which are used by some ACH Originators as a method of account [...]
NACHA has announced that the relief from specific provisions of NACHA, provided in response to the COVID-19 pandemic, will expire on October 1st, 2022. The following breaks down the expiration of [...]
The Same Day ACH dollar limit will increase to $1 million per payment on March 18th. The Rule will apply to all Same Day ACH entries, including consumer payments and business [...]
There are two phases of changes that your bank will need to be aware of regarding Micro-Entries. The first phase is effective September 16, 2022, and the second phase will [...]
Effective September 17, 2021, the Meaningful Modernization Rule has five amendments to improve and simplify the ACH user experience for authorization and initiation of ACH payments; reduce barriers to the [...]
On August 1st, Nacha will implement the second phase of the ACH Contact Registry Rulemaking that effectively enforces the Rule. Previously, only Originating Depository Institutions needed to register contact information. [...]
The IRS has announced Advance Child Tax Credit (ACTC) payments will be sent via Direct Deposit with an effective date of July 15, 2021. Recurring monthly payments will continue through [...]
Effective June 30, 2021, the new rule limits the length of time in which an RDFI will be permitted to make a claim against the ODFI’s authorization warranty. For an entry [...]
The Reversal Rule changes become effective June 30, 2021. The Rule explicitly addresses improper uses of reversals. It expands the permissible reasons for a reversal to include a "wrong date" error – 1) the [...]