If you have worked in the payments industry for very long at all, you likely have noticed a recurring theme… the ACH Rules are always changing! But, that’s a good thing. The Rules direct how the ACH Network is operated, keeping it safe and efficient. For everything to run smoothly, the Rules must keep moving to align with the new and innovative ways we use payments.
Here’s a list of this year’s ACH Rules changes you’ll want to be sure to learn about if you haven’t already:
- Supplementing Fraud Detection Standards for Web Debits
March 19, 2021
- Expanding Same Day ACH
March 19, 2021
- Differentiating Unauthorized Return Reasons
April 1, 2021
- Supplementing Data Security Requirements
June 30, 2021
- Limitation on Warranty Claims
June 30, 2021
- Reversals and Enforcement
June 30, 2021
- Meaningful Modernization
September 17, 2021
EPCOR adjusts how we keep members informed of Rules changes to align with your needs and current events. Throw the COVID-19 pandemic into the mix, and things are even more different. Here’s how you can stay up to date with recent changes:
- New! ACH Rules Update for Financial Institutions
This handy new reference is available exclusively to EPCOR members via the Knowledge Community and includes an easy-to-read breakdown of 2021 ACH Rules changes from the financial institution perspective. Think of it as an executive summary of changes with high-level information and what financial institutions should do to comply. If you’ve seen our ACH Rules Update for Corporate Originators document, then this should look familiar.
- Payment Systems Update Recordings
This annual update covers what you need to know about key changes for the year in ACH, FedNow, RTP and more. Typically, a full-day in-person seminar, this year’s update is covered in three two-hour webinar segments. To keep you engaged virtually, we have added some fun tv-themes and interaction to each webinar. The live webinars are now finished, but you can still register for the recordings and stream what you need to know to do your job efficiently.
- EPCOR Payments University
Whether you’ve cannon-balled into the world of payments or have barely dipped your toes in, EPCOR Payments University is the place to get the comprehensive education you need! Join us for workshop-style sessions covering a variety of payments topics - including the ACH Rules basics and ACH Rules changes of course. Choose from courses in our Core Concept and AP tracks to create your own syllabus. If you hurry, you can still join us in Columbus, OH July 8-9. We will also be in Branson, MO August 18-19. Or join virtually September 8-10.
- EPCOR Payments Conference – Fall 2021
Hear from engaging payments industry experts on exciting payments topics like payments innovation, fraud, risk and key ACH Rules changes. There will also be plenty of opportunities for peer-to-peer networking and an exhibit hall for exploring innovative payments solutions. This year’s theme is BACK TO THE FUTURE OF PAYMENTS so there will be LOTS of fun to be had as well. Come see us in Overland Park, KS on October 25-27!
I hope this helps! If you need information on how to educate your clients on ACH Rules, check out this article. Or, if you have any questions, just give our Member Support team a shout via phone (800.500.0100), email ([email protected]) or chat (epcor.org).
PS. If you are new to the payments industry, I would suggest starting with the basics. Our accredited trainers are happy to pass down important traditions, such as the history of ACH and teach campers the ropes of ACH basics including the technical aspects, ACH Rules, exception handling and risk management at Virtual ACH Day Camp. |
