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Payments Pulse - January 30th Edition

Payments Pulse
Payments Pulse, January 30, 2020
The Clearing House
Payments Pulse

Industry News & Resources

Why 44% of Millennials Bank with BofA, Chase, and Wells Fargo

Source: Forbes

TCH to Raise RTP Transaction Limit (eff Feb 1st)

Source: Digital Transactions

Don’t Abbreviate 2020. It’s for Your Own Good

Source: CNN

ACH Rules Supplement #1-2020

Source: Nacha
Protected content. Follow these steps to view: Login> My Account > Members Only

Attempted Check Fraud Spiked 43% in Two Years


We Get Questions...

Q and A
Q.)  Can you confirm that verification of routing numbers is not required for PPD transactions? I know it’s a requirement for WEB debits
A.)   The ACH Rules for the TEL and WEB Standard Entry Class (SEC) codes require Originators to validate routing numbers prior to origination. Otherwise, the ODFI warrants that transactions originated are valid and authorized. Prenotes are optional for PPD transactions but they are recommended for recurring ACH debits. The Federal Reserve’s E-Payments Routing Directory (found at is a helpful resource for confirming routing numbers. You can also check TCHPA’s Documents on Demand page for additional information about PPD, WEB and TEL transactions but you’ll need to login as this page is available to members only.
Have a question for TCHPA? Call 800-875-2242 (choose option 3) or email

Time for an ACH Tax Refund Refresher?

Tax season is here. Soon your account holders’ refunds will be rolling in. Does your team know how to tackle the exceptions in order to limit your financial institution’s liabilities?
Exception Handling of ACH Tax Payments
On Demand Recorded Webinar
Tax refund time comes with challenges for financial institutions when posting and returning refunds made through ACH. Scenarios are used in this session to show attendees how to handle refunds that post to the correct account number, but wrong tax payer, and the potential for fraud when an account receives multiple tax refunds. Learn what the IRS and individual states are doing to combat tax refund fraud. This session was recorded in 2019 but the information presented is still relevant in 2020. No charge for TCHPA members.

Upcoming TCHPA Education


Nacha Webinar – Complying with the New ACH Contact Registry
Significant savings when you register via the TCHPA


AAP Recognition Day Virtual Alliance Meeting
Must be an Accredited ACH Professional to attend


APRP Prep Talk: Steps to Preparing for the 2020 Exam


AAP Prep Talk: Steps to Preparing for the 2020 Exam


Payments Thirty: ACH Reversals for Financial Institutions

2020 Nacha Member Discount Code

As a member of The Clearing House Payments Authority, you are also entitled to member rates on the website. Each year Nacha assigns a new discount code (MDC) and asks that prior to making a purchase on their site you update your profile with this information. Once added to your profile, you’ll automatically receive member rates for the remainder of the year.
2020 MDC: Protected content. Follow these steps to view: Login> My Account > Members Only
*Before making a purchase on the Nacha website, be sure to check The Clearing House site to make sure we are not also selling the publication/item you’re looking for. It is our goal to offer the best rates around.

Keeping your information up-to-date.

Have you recently changed email formats? Is there a merger on the horizon for your financial institution? Has it been awhile since you let us know about employees who have left your organization? If the answer is yes to any of these questions, we want to hear from you. It’s important that you keep us in the loop so your monthly billing statements are delivered to the appropriate person, that website profiles are disabled when an employee leaves your organization, and that we’ve got contact information for your newest employees so they too are aware of all the free training and available resources? Be sure to contact TCHPA Member Services at or call (800) 875-2242 (option 3) when changes occur that impact your membership and your team.

Real Time Payments

What's in it for you?

RTP System Operating Rules
February 1, 2020

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