ACH compliance is critical for businesses that process electronic payments. Non-compliance can lead to fines, legal issues, and even reputational damage. Our comprehensive ACH Compliance Checklist for C-Suite is designed to help you understand the key elements required to maintain compliance and safeguard your business.
This checklist provides an actionable roadmap to simplify your compliance efforts, ensuring you meet NACHA regulations, secure authorizations, and implement strong data security practices.
• Authorization & Record Retention: Best practices for managing ACH authorizations and maintaining records.
• Accurate ACH Return Code Management: How to assign and process return codes to avoid costly penalties.
• Fraud Detection & Data Security: Implement encryption, monitor for fraud, and adopt two-factor authentication.
• KYC & AML Compliance: Verify customer identities and continuously monitor transactions to prevent fraud.
• Automating Compliance: Use AI and automation tools to streamline authorization, return processing, and audit reporting.
• NACHA Rule Updates: Stay up-to-date with the latest rule changes, including Same-Day ACH requirements.
By downloading this checklist, you’ll gain the tools needed to ensure compliance, reduce risks, and keep your business operating smoothly in today’s complex payment landscape.
