It's time to be sure your bank or credit union is registered on the ACH Contact Registry. Enforcement will start Aug. 1.

As the ACH Network grows, part of that growth can be attributed to an increase in consumer payments made via the internet and mobile devices. With that growth comes a need to ensure account information is accurate before ACH debits are originated. It's one reason why Nacha is implementing the Supplementing Fraud Detection Standards for WEB Debits Rule – often called the Account Validation Rule

By Richard Oliver & George Warfel Jr.

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An industry resource – the ACH Contact Registry - was created for financial institutions to be able to more easily connect with other financial institutions about ACH operations, exceptions and risk management.