Pay and collect with greater speed, accuracy and efficiency through one of the world’s safest, most reliable payment networks. Use ACH to help improve forecasting, reduce exposure to check fraud, cut expenses and get faster access to funds.
How ACH keeps you safe
Switching from checks to ACH can greatly help reduce risks. Our fraud prevention tools can protect you against unauthorized transactions to your accounts.
ACH Positive Pay: Take control of ACH transactions received in your accounts. Automatically accept transactions from authorized trading partners and make real-time decisions to pay or return unauthorized transactions.
Account Validation: Reduce the potential for payments to unintended or fraudulent counterparties. Pre-validate the ownership and/or status of the receiver’s bank account prior to originating an ACH transaction.
Ways to use ACH
Make and receive a wide range of recurring and nonrecurring payments.
Direct deposit: Pay employees and other consumers
Consumer receipts: Collect utility bills, insurance premiums, mortgage payments and more
Business payments: Send funds to suppliers and other B2B counterparties
Tax payments: Make federal, state and local tax payments
Cash concentration: Consolidate funds from various locations
Cross-border: Connect in Canada, Mexico, Panama and Europe
How ACH works
While most ACH transactions post on the following day, we offer same-day posting for eligible transactions destined for accounts at Bank of America and other Receiving Depository Financial Institutions.
It’s easy to ACH payments and receipts via CashPro® ACH, CashPro® Connect and CashPro® API. You can create and deliver a standard ACH-formatted file using your business software, a payroll vendor or our ACH service.
Nacha rule changes
Nacha administers the Operating Rules for ACH payments. The ACH network connects U.S. bank accounts and offers an efficient way to move money from one bank account to another. Learn more about new ACH rules below.
March 19, 2021
Supplementing Fraud Detection for Debit WEB transactions—To the existing NACHA Rule Subsection 188.8.131.52 (Additional ODFI Warranties for Debit WEB transactions), this Rule adds a sentence stating that the fraudulent transaction detection system must, at a minimum, validate the account to be debited for the first use of such account number, and for any subsequent change(s) to the account number.
March 19, 2021
Expanding Same-Day ACH— Originating Depository Financial Institutions (ODFIs) may originate Same-Day ACH transactions using a new, later ACH Operator processing window. For a same-day credit received in the third same-day processing window, a Receiving Depository Financial institution (RDFI) must make the amount of the credit available in the Receiver’s account no later than the completion of the RDFI’s processing for that Settlement Date, subject to its right to return the Entry under these Rules.
Speak with your Bank of America representative to learn more.