NACHA Rule Changes

Effective: 2014-03-21 Non-Consumer Receiver's Obligation to Credit Originator's Account - revises the text and title of Article Three, Subsection 3.3.1.3 (Non-Consumer Receiver Must Credit Originator's Account) to make the section's intent clearer and easier to understand for ACH Network participants.

Effective: 2014-03-21 Requires identification of the ultimate foreign beneficiary or payer of funds in any inbound IAT entry (debit or credit) where that party is not the originator or receiver of the entry.

Effective: 2014-03-21 Clarifies that any country named within various fields of an IAT entry must be identified using that country's 2-digit alphabetic ISO Country Code, as defined by the International Organization for Standardization's (ISO) 3166-1-alpha-2 code list.

Effective: 2014-03-21 Clarifies that an ARC, BOC, or POP Entry may also be considered an incomplete transaction regardless of whether the account that is debited is a consumer account or a non-consumer account.

Effective: 2014-03-21 Clarifies certain sections of the Rules with respect to their application to P2P credit Web entries and corrects a minor discrepancy between return reason code descriptions.

Effective: 2014-03-21 Standardizes the use of the ACH Network for P2P payments and clarifies use of SEC codes WEB and CIE.

Effective: 2014-03-21 Revises two IAT field descriptions, "Originator City and State/Province" and "Receiver City and State/Province", to clarify that, in addition to the backslash (\), the tilde(~) may be used as a data segment terminator. This Rules change allows consistent use of the tilde as data segment terminator for all entries.

Effective: 2014-01-21 Addresses technical and drafting discrepancies between Reversing Entries and Reclamation Entries and makes the rules related to Reclamation Entries consistent with those for Reversing Entries to the extent possible.

Effective: 2013-09-20 The ACH Security Framework establishes minimum data security obligations for ACH Network participants to protect ACH data within their purview. This Rule is aimed at protecting the security and integrity of certain ACH data throughout its lifecycle, and is intended to be consistent with other data security obligations of ACH Network participants. The Rule implementation includes three sets of rules: Protection of Sensitive Data and Access Controls Self-Assessment; and Verification of Third-Party Senders... Read More

Effective: 2013-09-20 This Rule revises language regarding the effective period of a stop payment order related to a debit Entry to a Non-Consumer Account, incorporating two additional conditions under which a stop order would lapse. Prior to this change, a stop payment order on a Non-Consumer Entry will expire after six months, unless it is renewed in writing. The Rules will now take into account two additional conditions under which an RDFI may remove the... Read More