The National Automated Clearing House Association (NACHA) maintains its Operating Rules and sound risk management procedures to govern the use of the Automated Clearing House (ACH) Network. These rules are used to ensure that the ACH Network is efficient, reliable, and secure for its members.
Because the ACH network uses a batch process, there is a great risk to NACHA members of high fines or even being prevented from using the network at all when you submit bad information. Fortunately, IDology’s identity verification solutions are based on real-time verification. Which means you’ll know well ahead of time if something looks suspicious. Best of all, you’ll have a higher level of confidence that the transactions you put into the network are valid.
How Compliance with ID Verification Benefits you:
- Improves the quality of account origination transactions going into the network
- Helps you determine what verification details are “commercially reasonable” for your business
- Reduces incidences of fraud
- Fewer NSF problems
- Improved revenue through fast approval rates