The National Automated Clearing House Association (NACHA) has implemented an enhanced fraud detection rule for any business that process online ACH debit transactions. This rule requires that the account number be validated as part of a “commercially reasonable fraudulent transaction detection system” for the first use of an account number or for changes to the account number.
In order to allow Utilities to comply with the new mandate, our billing system has partnered with Plaid, a financial services company, to validate account information for online eChecks.
On March 17th, 2022 the Board will be reviewing and possible accepting these new fees.
New fees will be considered and voted on;
New Fee for eChecks only
Account authorizations: $1.50 per account link/update (one time)
Balance checks: $0.20 per transaction
The third-party processing fee will also apply with this option
All other fees stay the same.