NACHA Compliance

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Nacha Compliance Solutions

nacha preferred partner ownership verificationLyons Commercial Data™ provides Nacha compliance solutions for instant bank account verification, account ownership authentication, and routing number validation. Our Nacha compliance solutions provide financial institutions, banks and ACH originators with quick access to validate customer information.

Nacha is an industry trade organization and the administrator of the Automated Clearing House (ACH) Network, responsible for authoring ACH operating rules, and performing rules enforcement and risk management. The Nacha Operating Rules provide the legal foundation for the exchange of ACH payments and ensure that the ACH Network remains efficient, reliable, and secure for the benefit of all participants.

nacha account verification

ACH ORIGINATORS OF WEB DEBITS: ACCOUNT VALIDATION

NACHA rule changes will require ACH originators of WEB debit to add account validation as part of their fraud detection system. This NACHA rule change is planned to go into effect March 19,2021. Lyons Commercial Data is a NACHA partner and provides several options so ACH originators can have the tools to meet new rules. Stay compliant and reduce fraud by implementing our account verification tool.  This tool can assist in ACH account validation by confirming that the correct bank account number is used in a transaction.

ABA Routing Numbers and NACHA Compliance

To reduce the number of administrative returns entered in the ACH Network, NACHA compliance requires companies originating ACH transactions to use commercially reasonable procedures to verify that routing numbers are valid for WEB and TEL ACH transactions. One way to do this is to verify the length and the check digit of the routing number, and to make sure it is properly formed. However, verifying the length cannot prevent the use of the routing number.

Options for Compliance

Lyons Commercial Data™ provides offers iBankRegistry™ Routing Number Verification and iBankRegistry™ Account Verification.  iBankRegistry™ validation tools are separate products, but can easily be added together to verify accounts and routing numbers in one system. Our verification tools help daily operations in being proactive to quickly access accurate information required by Nacha

bank ownership verification

Account Ownership Authentication

The Account Ownership Authentication tool provides instant verification of bank ownership in real-time. Quickly validate the owners of a business or consumer bank account in real-time.This comprehensive fraud detection and compliance product is available using a Web Service/ API; allowing instant bank account ownership verification in your system.

IBANKREGISTRY™ ROUTING NUMBER VERIFICATION

Quickly validate ABA routing numbers with the most accurate and up-to date-information using iBankRegistry™ Routing Number Verification. Lyons Commercial Data™ provides this tool to assist payment processors with Nacha compliance and perform ABA Number Verification at a reasonable cost per transaction.

Operations staff can quickly access locations or the phone numbers for the ACH operations departments at another financial institutions or find the correct SWIFT number for wire transfer purposes.  Lyons Commercial Data™ provides organizations with accurate data in a user-friendly environment.

The iBankRegistry™ Routing Number database is available by subscription as an FTP download or via an XML Web Service. Optionally, subscribers can access iBankRegistry™ data online when performing research on failed payments. The iBankRegistry™ online database access provides flexible search capabilities, yielding accurate results with limited information including partial bank routing numbers and previously used bank routing numbers. Registered users receive instant access to detailed bank information including phone and fax numbers.

iBankRegistry™ Routing Number Verification Options:

  • Online
  • Database
  • Integrated Web Services/ API
bank account verification tools

IBANKREGISTRY™ ACCOUNT VERIFICATION

Reduce the risk of returns and fraudulent transactions with iBankRegistry™ Account Verification.  Get instant account validation to increase fraud protection and to stay compliant with Nacha’s upcoming rule changes. Streamline daily operations with account validation that can be used within your software or accessed online.

iBankRegistry™ Account Verification Options:

  • Online
  • Integrated Web Services/ API

iBANKREGISTRY™ Verification Tools

Online

The iBankRegistry™ online is the browser based version for subscribers of routing number or account validation services.  Routing number and account validation services can also be bundled together for optimum risk identification and compliance.   Access the iBankRegistry™  online in real-time and empower your operations staff to easily locate the information needed to process wire transfers, WEB debits, returns, pre-authorized drafts, and collections.

database

Verifying bank routing number information is essential for banks, credit unions, payroll departments, call centers, ACH processors, e-Commerce developers, and nearly everyone involved with payment processing. Our dedicated content management staff performs hundreds of updates per week to maintain the highest possible data accuracy. When you incorporate the iBankRegistry™ routing number database, you can benefit from a complete and accurate U.S. and Canadian financial institution data set.

WEbservices

Lyons Commercial Data™ provides real-time access to the iBankRegistry™ database via XML-based Web Services hosted in a secure and fully redundant data center. These services provide developers a seamless link to vital transaction processing information. Applications accessing Lyons routing number Web Services utilize Simple Object Access Protocol (SOAP) to process information requests to and from Lyons servers via https:// for SSL encryption.