NACHA Third Party Sender Registration
OVERVIEW Third-Parties in ACH perform different functions which determinetheir role in the ACH network. A NEW Rule now requires registration with NACHA to identify any Third-Party Senders! What do these Third-Parties do for either the financial institution (ODFI/RDFI) or the company (Originator) and how does this affect the role they play in the ACH network? First due diligence must be done by the ODFI to answer this question – are you in a Third-Party Sender relationship? Determined by this “role they play” makes them, and the financial institution they do business with obligated to adhere to responsibilities and the Rules when processing ACH Payments. The ODFI will be required to register any Third-Party Sender (and nested Third-Party Senders) for whomever they are doing any type of ACH business with them. Online Payment Processing WHY SHOULD YOU ATTEND In this 90-minute session, the different types of Third-Parties will be addressed. Third-Party Service...