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ACH And NACHA: What You Should Know To Maximize ACH

ACH And NACHA: What You Should Know To Maximize ACHACH has been a part of the fabric of American society since the 1970s. Originating as a federal government project to help ensure U.S. Air Force service members would always get their pay checks on time, it now services almost $40 trillion in transactions annually.

That means that even as you read this, there’s a good possibility that several billion dollars’ worth in ACH transactions are on their way throughout the United States. Services that are similar to ACH also exist in many other countries across the globe.

If we combine all of the different ACH-like services worldwide, then we quickly find that ACH-inspired services are responsible for hundreds of trillions of dollars in transactions all around the planet. Amazing!

All of this activity doesn’t go on without some regulation or oversight, however.

That’s where NACHA, also known as the Electronic Payments Association, comes in.

NACHA is the U.S. professional organization that helps engineer the future of ACH:

-- NACHA experts develop new policies and procedures to make ACH faster and more secure. -- NACHA works with financial institutions and other major organizations to implement ACH. -- NACHA maintains a long-term view of the global competitive climate to strengthen America.

As an ACH processing customer, you don’t need to know all of the details of what NACHA does. However, it’s important to work with an ACH processor that is well aware of the gradual evolution of ACH through this organization.

Recent NACHA Meeting Sets The Tone For The Future Of ACH In The Next Decade

The most recent NACHA meeting just took place this past April. Hundreds of top financial professionals were involved in setting the agenda for how ACH should look.

In that meeting, one thing became abundantly clear: U.S. ACH needs to catch up with similar services in the rest of the world that are currently even faster.

Generally speaking, ACH payments take about two to three days to process fully after they are initiated. This is because of the robust security that attends every transaction.

In some countries, it has been possible to increase the number of times per day that ACH payments are captured and processed. This is the new goal for NACHA.

At National Processing, we maintain a close watch on NACHA so we can always offer you the best possible services.

To find out more about us and what we can do for you, call or email today.

Posted in ACH on May 20, 2014