ACH- Third Party Sender Registration
ACH- Third Party Sender Registration
On September 29, 2017 NACHA’s Third-Party Sender Registration Rule became effective. Financial Institutions must register with NACHA either to register their Third-Party Sender customers or to indicate that the institution does not have any Third-Party Senders. The implementation period ends after March 1, 2018. Registration can be accomplished through NACHA’s website and can be done via the same platform that displays the Bank’s Direct Access registration status. If a Bank has a Third-Party Sender originating ACH transactions, the Bank must provide the name principal location of the Third-Party Sender, the routing number (of the ODFI as included in the Originating DFI Identification field) used in ACH transactions originated for the Third-Party Sender, and the Company Identification of the Third-Party Sender at the time of registration. Please see the link below to NACHA’s website which provides additional technical details of the new rule, FAQs that they have received, and to register to your Bank with NACHA for the new registration requirements.
https://www.nacha.org/rules/third-party-sender-registration
Article compiled by Mark Gallagher, for additional information please visit our contact us page
ACH | Mark Gallagher | NACHA