Bank Account Verification Service: 4 Tips for Selecting the Right Service
This blog will talk about selecting the best bank account verification service. Although sometimes it may seem that all account verification solutions and companies are the same, they are not for various reasons. Below, we’ll outline what types of things your business should look for when selecting a bank account verification service. What is Bank […]
NACHA Upcoming Changes for Online ACH Transactions
In early 2021, NACHA will be changing compliance standards for routing number and account verification used for internet payments (WEB debits). The current iteration of the WEB Debit Account Validation Rule (Article Two, Subsection 2.5.17.4) states that originators of WEB debit entries must use a “commercially reasonable fraudulent transaction detection system” to screen for fraud. […]