On July 30, 2008, NACHA’s Board of Directors approved a Policy Statement on Direct Access. This policy addresses the importance of Originating Depository Financial Institutions (ODFIs) registering with NACHA their direct access relationships for ACH debit transactions, and following prudent risk management techniques including adherence to best practices for the duration of these relationships.  The NACHA Board of Directors expects that ODFIs will register their direct access relationships with NACHA, allowing NACHA to better quantify the number of, and the risk profile for, direct access relationships.  NACHA will work with the ACH Operators to validate that financial institutions have registered all direct access relationships.

 

NACHA has established a secure website for ODFIs that includes the forms to complete the registration process. Financial institutions are required, during an initial six-week period from September 22, 2008 through November 3, 2008, to either register their current direct access relationships or acknowledging a statement that the institution does not maintain direct access relationships for ACH debit transactions.  The secure site for direct access registration is now available. Please go to http://www.nacha.org/OtherResources/riskmgmt/DirectAccess to register.

Two important documents accompany this information. It is suggested that you download and read these docuemnts. To do so please click here.