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Important NACHA Changes: Account Validation

Payment Savvy

As such, they are pushing for more robust controls against fraud, and one of them is this new rule that requires account validation. Also, as part of the validation process, merchants must ensure any bank account submitted for an ACH transaction is valid. Account Validation Approaches.

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NACHA 2021 ACH Rule Change Mandates Checking Account Validation For Web Based Payments

Agile Payments

What does the new NACHA ruling around WEB ACH transactions really mean and why has it been implemented?

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1-NACHA 2021 ACH Rule Change Mandates Checking Account Validation For Web Based Payments

Agile Payments

What does the new NACHA ruling around WEB ACH transactions really mean and why has it been implemented?

NACHA 88
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New NACHA Rule Could Catch Payment Processors, Merchants, FIs Off-Guard

PYMNTS

In a new PYMNTS interview, David Barnhardt, executive vice president of product at GIACT , which offers fraud detection and account validation tools, talks about an upcoming change by NACHA, national administrator of the ACH network, to make internet-initiated debit transactions (WEB debits) safer and more seamless.

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BNY Mellon Partners With Early Warning Services For Faster Payment Times

PYMNTS

The service is also payment-agnostic, able to verify accounts for payments including wire transfers, automated clearing houses (ACH) and real-time payments. Lou Anne Alexander , chief producer officer for Early Warning Services, said the service would be innovative in its adoption of digital services.

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Amount Selects ValidiFI to Enhance Digital Origination Solutions

Fintech Finance

Through this partnership, Amount will leverage ValidiFI’s comprehensive data network, which includes data from key bank sources that maximizes coverage, for the validation and authentication of bank accounts.

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ACH Fraud Is Rising - And New NACHA Measure Leaves Gaps

FICO

In response to a rise in fraudulent activity targeting ACH and other electronic transactions, the WEB Debit Account Validation Rule was put into effect by NACHA on March 19, 2021. The supplemental requirement applies to the first use of an account number or changes to the account number. Source: NACHA. Here’s why.

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