Industry News & Resources

TCH’s CHIPS Network Extends Operating Hours

Consumer Credit Card Debt Hits Lowest Point Since 2017

Same Day ACH Guidance for RDFIs

Same Day ACH Guidance for ODFIs

Survey Results: The Online Account Opening Experience

TCHPA Member Billing Cycle Change

In order for The Clearing House Payments Authority (TCHPA) to process member billing and prepare statements for timely distribution at the beginning of each month, we will be making a change to the monthly billing activity cut-off date. Beginning in March 2021, our monthly billing cycle will close at end of day on the 19th of each month

What WILL change:

• When you or a member of your team makes a purchase on the TCHPA website after the 19th of the month AND Member Billing is chosen as your payment option during checkout, the charge will be added to the following month’s billing statement.

What will NOT change:

• If your monthly statement typically includes a charge for TCHPA dues only, you will not notice a change. We will continue to bill for the previous month’s membership dues as we have in the past (i.e. March dues appear on the statement emailed in early April and the mid-April debit will collect for March dues.)
• Your monthly TCHPA statement will continue to be emailed to the billing contact(s) in our database in the early days of each month (weekends and holidays will sometimes impact delivery dates).
• The ACH debit to collect your balance due will still post on or after the 15th of every month. Actual debit date will continue to appear on your statement.
• EPN processing customers are not impacted by this change. EPN activity will appear on statements as usual.

Questions? Please call Member Services at 800-875-2242 (choose option 3) or email education.services@theclearinghouse.org .

TCHPA Support When You Need It

Erroneous IRS Dishonored Returns
Due to a tax payment processing issue on 3/1/21, the IRS inadvertently dishonored a large number of Financial Institution (FI) returns using the R69 dishonor code (Field Errors). Many of the FIs that received the dishonored transactions were perplexed when they found no field errors and contacted TCHPA for assistance. As always, we recommended that our members follow the ACH Rules and advised members to dishonor the returns using the R76 code (No Errors Found) to avoid further processing issues and delays. After speaking with Nacha and the IRS, TCHPA soon realized this was an issue that impacted FIs across the country. Acknowledging the processing error, Treasury also instructed FIs to contest the dishonored returns (R76) and agreed to allow transactions received after the standard return timeframe to post.

Payments Education

Upcoming Sessions

Merger? New Email Format? New Employees?

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 recipient(s), 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 education.services@theclearinghouse.org or call (800) 875-2242 (option 3) when changes occur that impact your membership and your team.

Member Support