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FirsTech - NACHA

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FirsTech - NACHA

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  1. FirsTech NACHA NACHA Account Validation Rule Changes 800.800.1598 information@firstechinc.com

  2. What is Changing? NACHA is the governing group managing ACH payments. They established industry standards that all payment processor requirements continue by accepting ACH as payment or money shift. It includes specific minimum requirements like requesting account numbers and routing numbers from new customers. 800.800.1598 information@firstechinc.com

  3. The real material change Following earlier rules, account validation was elective. Though any WEB debit originators previously did that separately, that was nevermore a wanted section of the validation method. Hence this difference affects your business will depend upon whatever you’re preparing and how fast you can adjust if required. 800.800.1598 information@firstechinc.com

  4. How It Affects You If you previously have a system in place for account validation, you may see very little change as long as it’s compliant with the new standards. If you don’t have a system that can support account validation, you want to start working towards an agreement right continuously. 800.800.1598 information@firstechinc.com

  5. When the Nacha Rule Changes Apply The modifications were agreed upon a few years back, with an implementation date of March 19th, 2021. From this date until March 20th, 2022, all required parties should be completely compliant or take actionable actions to become compliant. 800.800.1598 information@firstechinc.com

  6. How Does Account Validation Work? Account validation gets more levels from the payment processor. There are several methods to verify buyer accounts, but one of the easiest ways is API Validation, also known as an API call. That is the system used by FirsTech. 800.800.1598 information@firstechinc.com

  7. Services FirsTech Also Provide Mobile Solutions Telephone Payments Electronic Payments In-Person Payments Merchant Services 800.800.1598 information@firstechinc.com

  8. If you have any Query Follow Us on information@firstechinc.com 800.800.1598 www.firstechpayments.com 1 N. Brentwood Blvd, Suite 910 St. Louis, MO 63105 800.800.1598 information@firstechinc.com 8

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