New year, new ACH rule changes
Here's to a new year full of peace, prosperity...and ACH rules. A new twist on an old adage! Speaking of new, Nacha has announced several rule changes for 2021, the first of which took effect January 1. Click here for more information and a brief overview of each rule.
2021 Nacha rule changes:
- January 1, 2021 | Enforcement
- March 19, 2021 | Expanding Same Day ACH: addition of third processing window
- March 19, 2021 | Enhanced fraud detection standards for WEB debits
- April 1, 2021 | Phase 2: differentiating unauthorized return reason codes
- June 30, 2021| Supplementing data security requirements
- June 30, 2021 | Limitation on warranty claims
- June 30, 2021 | Reversals
- September 17, 2021 | Meaningful modernization