NACHA Operating Guidelines – Company Name Identification Rule Amendment

 On June 20, 2008, the NACHA Operating Rules will be amended to incorporate clarifications to the definition of the Company Name Field within the Company/Batch Header Record. This Supplement #3-2008 provides updated NACHA Operating Guidelines related to these changes, adding new language to help clarify the proper use of this field. Examples of origination scenarios and the proper use of the Company Name Field in those cases are provided to assist Originators and ODFIs in properly identifying Originators of ACH payments.


Formal Rules Interpretation – Proper Use of SEC Codes and Aggregation of Transactions

On March 20, 2008, NACHA’s Board of Directors approved a delay in the implementation date of the Formal Rules Interpretation on the Proper Use of SEC Codes and Aggregation of Transactions. Initially due to implement on May 5, 2008, this Formal Rules Interpretation will now become effective on August 4, 2008. The specific details of this Formal Rules Interpretation remain unchanged by the Board’s action regarding the implementation date and can be located within the 2008 rulebook under the section entitled “Formal Interpretations of the NACHA Operating Rules.”

The ACH Rules supplement #3 has been released by NACHA. Please include the materials with your 2008 edition of the ACH Rules to ensure that your rulebook is up to date. The online version of the ACH Rules will also be updated to incorporate this information.

Click here to download the supplement. Please call EastPay at 800-681-4224 if you have any questions about these changes. Also consult our Education calendar for details about our upcoming classes on these changes.