Starting Sept. 29, 2017, credit unions and other financial institutions that originate ACH transfers must start identifying and registering their third-party sender customers with NACHA, according to an announcement this week by the organization, which sets the rules for and administers the ACH network. 

Third-party senders are processing intermediaries between financial institutions and the end users of ACH payments. Under the new rule, credit unions and other originating depository financial institutions on the ACH network will have to provide the names and contact information for every third-party sender they have a relationship with; ODFIs that don’t have third-party sender relationships must provide statements to that effect, according to NACHA.

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Tina Orem


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