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NACHA Adds 9K Third-Party Senders, Expands ACH Payments

PYMNTS

29, 2017, calls for financial institutions that originate ACH payments to register their third-party sender customers through the NACHA Risk Management Portal. NACHA defines a third-party sender as an intermediary between the party that is initiating an ACH payment and the bank or credit union that submits the payment into the ACH network.

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Important NACHA Changes: Account Validation

Payment Savvy

NACHA worries this high volume of transactions on the ACH network opens the way for fraud. Instead, they send a no monetary value transaction through the ACH network to confirm an account is valid. NACHA’s recent figures revealed that in 2018, U.S This accounts for close to 82% of all U.S