New NACHA Rules for AlarmPayments

Overview

Due to new NACHA (National Automated Clearing House Association) rules, you must now include the bank account holder name for all ACH transactions through AlarmPayments. This requirement goes into effect in March 2022.

What's Changed

Starting in March 2022, NACHA requires all Web ACH transactions to have the ABA routing and account number "verified" before submission.

As a result, the Bank Account Holder Name is now required in:

• Recurring charges screen
• AlarmPayments interface

Impact on Historical Records

Historical Checking/Savings Autopay Charges:

• Existing recurring charges do not have the account holder name stored
• The Autofill Payment Info Button may not have a name available
• You may need to manually enter the site name or copy/paste from the site name field

AlarmPayments Updates:

• Names entered in AlarmPayments will automatically be added to the recurring charges

New and Edited Recurring Charges

When creating new recurring charges or editing existing ones:

• The system will automatically add site information
• You will be prompted to select between:
  • Site name
  • Bill-to name

Verification Process (March 2022 Forward)

Once verification is enforced in 2022, ACH transactions in AlarmPayments will include:

• An additional verification step
• ABA routing number and bank account number will be verified before the transaction is accepted
• Transactions cannot be submitted without passing verification

Action Items

To prepare for this change:

1. Review existing ACH recurring charges
2. Add bank account holder names where missing
3. Update customer records with accurate account holder information
4. When using Autofill Payment Info, verify the name is populated
5. Manually enter or copy/paste names as needed for historical records

Key Points

• Required for all Web ACH transactions starting March 2022
• Bank Account Holder Name must match the actual account holder
• Verification step added to prevent transaction errors
• Historical records may need manual updates

Need Help?

Still have questions? Contact Cornerstone Holding Co. 847-405-9517 or email us customer.success@alarmbills.com