Ai Verify Bank/Data from Accelitas is ready to help businesses meet the new enforcement with instant bank account verification.
Nacha’s March 19th deadline for enactment of the Web Debit Rule for Bank Account Validation is almost here. Some organizations are prepared to meet these tougher standards. Many are not. In order stay ahead of new regulations, online businesses need a solution that’s fast, affordable, sophisticated, and compliant.
The good news: Accelitas is now a Nacha Preferred Partner for Account Validation. In becoming a Preferred Partner, Nacha recognizes Accelitas for offering products and services that align with Nacha’s core strategies to advance the ACH Network.
Accelitas provides a frictionless solution that allows instant validation of bank accounts without the use of Online Banking (OLB) credentials. In test after test, the Accelitas Account Validation solution, Ai Verify Bank / Data, has handily outperformed our competitors — by a rate of up to 30% — while maintaining a lower cost.
According to Nacha, it “will not enforce this rule for an additional period of one year from the effective date with respect to covered entities that are working in good faith toward compliance, but that require additional time to implement solutions. Nacha strongly encourages all such covered entities to work towards compliance as soon as possible.”
It’s always a good time to secure better account verification and identity confirmation. Right now, it’s virtually required.