The Electronic Payments Association NACHA was established in 1974 by the California Automated Clearing House (ACH) Association, the New England ACH Association, the Georgia Association and the Upper Midwest ACH Association, for establishing even operating rules for the exchange of ACH payments among Automated Clearing House associations. The NACHA Operating Rules are the foundation for ACH payments. The NACHA Operating Rules define the roles and responsibilities of each financial institution in establishing clear guidelines for each Network participant. The Rules ensure that payments occur smoothly and easily every day. Banks comply with NACHA operating rules through effective risk management, direct deposit and direct payment via ACH, and abiding by the ACH operating rules.
Effective Risk Management
In order to ensure that the Automated Clearing House (ACH) Network upholds the maximum level of safety and security for its participants, the Electronic Payments Association works with the Banks to make use of a comprehensive Risk Management Strategy. This approach allows for new opportunities and applications to thrive, while ensuring safety, integrity and security of ACH payments. Banks guarantee that the ACH Network is the safest available means for transaction of payments and information.
Direct Deposit and Direct Payment via ACH
Direct Deposit through ACH and Direct Payment through ACH will make things easier for making payments, freeing you to focus on other important factors. Numerous employers, individuals, and financial institutions have taken up direct deposit and direct payment through ACH for ensuring timely payments, and ease financial activities.
ACH Operating Rules
Latest technologies and innovations are changing the way consumers and business access and perform money transactions. With the huge rise in use of electronic devices and mobile infrastructure, it is the need of the hour that electronic payments work safely and efficiently for all users. The ACH Network moves almost trillions and billions of electronic financial transactions each year using batch processing and a store-and-forward system.