HERNDON, Va. - The NACHA Operating Rules are available online for the first time with the publication of the 2002 edition of the rules.
"The ACH Rules Online will be a convenient online reference tool for users of the Automated Clearing House Network," said Elliott C. McEntee, president and chief executive officer of NACHA - The Electronic Payments Association.
The ACH Rules Online is an electronic version of the printed book and contains everything the print edition features, including the NACHA Operating Rules in its entirety, New Rules for 2002, Corporate Guidelines, a Quick Find Section, Regulation E and the Electronic Fund Transfer Act.
Changes and amendments to the rules will now be posted as soon as they are approved, resulting in time and cost savings.
The site is fully searchable by keyword, and users will have the ability to bookmark up to 15 pages and save up to 15 searches. For users who are extremely conversant with the print book, the ACH Rules Online can be viewed by page number of the print edition.
To access the ACH Rules Online, you must have purchased a print edition of the 2002 ACH Rules or the 2002 ACH Rules Corporate Edition, which are available on NACHA's Payments Publications Online catalog. The member price for the 2002 ACH Rules is $33; the non-member price is $55. A Corporate Edition is $17 for members, $37 for non-members.
The NACHA Operating Rules standardize payment formats for the ACH Network, and define the rights, obligations and warranties of parties involved in ACH payments.
The ACH Network serves 20,000 financial institutions, 3.5 million businesses and 100 million individuals. It is commonly used for direct deposit of payroll and government benefits such as Social Security, direct payment of consumer bills, business-to-business payments, federal tax payments, and e-checks and e-commerce payments.
In 2000 there were 6.9 billion ACH payments made worth more than $20 trillion.
