The March 2021 NACHA rule change is coming soon. It will require all merchants who accept ACH payments to have “commercially reasonable” processes to validate routing numbers and also to verify that accounts are in good standing.
This new NACHA account verification process rules go beyond the basic routing number verification to validate payments. The new NACHA rules will allow merchants to get a better look into an account’s profile.
About Lyons Commercial Data
Lyons Commercial Data, a division of Autoscribe Corporation, is a leading provider of quality U.S. financial institution data, including all current ABA routing numbers and other information critical to transaction processing. Lyons Commercial Data also offers proven solutions to financial institutions, payment processors, and other businesses, to assist them in optimizing their ACH processes, managing risk, and fraud mitigation.