January 12, 2021

Compliance Coffee Break: New NACHA Account Validation Requirement Coming in March - Are You Ready?

Presenters: Ryan Stinneford and Katie Hawkins

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An upcoming change to the NACHA Rules will impact your business if you allow consumers to authorize you to initiate ACH payments from their deposit accounts via the Internet or a mobile device (payments known under the NACHA Operating as "WEB Debit Entries"). NACHA will be requiring the payees to validate the account before submitting a one-time payment or the first in any series of recurring payments. There are various means a payee can utilize to accomplish this validation, but each comes with pros and cons. Ryan and Katie discuss the upcoming rule change and how to prepare.

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