Alliance Forums / General Forums / Regulatory Updates / Business Checks Ineligible for Conversion / Latest PostsInstantForum.NET v4.1.2Alliance Forumshttp://support.allianceach.com/forums/forums@allianceach.comTue, 02 Dec 2008 22:45:29 GMT20Business Checks Ineligible for Conversionhttp://support.allianceach.com/forums/Topic147-27-1.aspxThe new NACHA rule regarding ARC transactions against business accounts goes into effect in September.</P><P>The changes are as follows:</P><P>1) Business Checks with an auxiliary on-us field are ineligible. Other business checks are now eligible for conversion unless the receiver has opted out.</P><P>2) Opt-Out provisions must be made and adhered to.</P><P>3) Checks greater than $25,000 are ineligible.</P><P>This applies to business checks only. All other previously ineligible items are still ineligible.Fri, 16 Jun 2006 11:56:18 GMTPaul