Updates to the NACHA Rules Changes for 2021 and 2022
Each participant in the ACH Network is required to follow the Nacha Operating Rules and be compliant. There are several NEW amendments recently passed which will change the ACH Network processes – this is a NEED to know! In addition, an overview on Operations Bulletins (issued by Nacha) will be discussed (there are six of them for 2020). PLUS Operations Bulletin #7 that summarizes up COVID-19 Relief and Upcoming Rules Change Dates due to the uncertain times we are in at this time.
This session will provide the for changes to the Same Day ACH (SDA) environment (effective March 2021), the Unauthorized Return process with a new Return Reason Code R11 and the ACH Contact Registry (both effective right now in 2020) – NEW!!! and more!
Details on the new proposed amendment to the Nacha Operating Rules regarding Account Information Improvements Through the ACH Network, with a proposed effective date of March 18, 2022.
PLUS, Limitation on Warranty Claims, the Reversal Process and Rules Enforcement changes surrounding reversals, and Meaningful Modernization to enhance the ACH Network to keep up with changes in the payments landscape (all effective in 2021).