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Business Checks Ineligible for ConversionExpand / Collapse
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Posted 6/16/2006 11:56 AM


APT Staff

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The new NACHA rule regarding ARC transactions against business accounts goes into effect in September.

The changes are as follows:

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.

2) Opt-Out provisions must be made and adhered to.

3) Checks greater than $25,000 are ineligible.

This applies to business checks only.  All other previously ineligible items are still ineligible.

Paul

Post #147
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