Same Day ACH dollar limit will increase to $1 million
There’s a great enhancement coming for companies that take advantage of Same Day ACH and send or receive high-dollar payments.
Payments and Transactions
Overpaid ex-worker sued employer: Written agreement saves the day
If your Finance or Payroll folks make special arrangements with an employee to repay debts or overpayments, it’s critical to remind them to get the agreement in writing. This is the best way to protect your company in case any legal disputes arise. And it’s ironclad proof that the arrangement is on the up and […]
Nacha’s new WEB Debit Account Validation Rule effective March 19
Nacha’s WEB Debit Account Validation Rule kicked in on Friday. However, if you’re not completely ready, you catch a break. Under the rule, if you rely on automated clearinghouse (ACH) debits from customer accounts, you now have to take another step to guard against fraud. As the originator of the ACH, your company must verify […]
Virtual cards coming into the business travel world
Your company may use virtual cards for vendor payments. And now, some providers are looking to bring them into the business travel world.
Why interoperability represents the future of digital B2B payments
Each year, 120 trillion dollars are exchanged between businesses around the world. And more and more of those transactions are being made digitally. The Association for Financial Professionals (AFP) reports that paper check usage as a percentage of U.S. B2B transactions has lowered from 81% in 2004 to 42% in 2019. And it will continue […]
New Same Day automated clearinghouse window effective March 19
The Same Day automated clearinghouse (ACH) processing window will soon open wider! Effective March 19, the Same Day ACH files can be submitted until 4:45 p.m. ET (1:45 p.m. PT). That’s an extra two hours in your workday. Currently, the latest an originating depository financial institution (ODFI) can submit Same Day ACH files is 2:45 […]
2 same day ACH myths debunked! New insights from your peers
In March, a new higher per-transaction threshold for same day automated clearinghouse (ACH) payments kicked in. And with it came new concerns from your peers. Time to debunk dome same day ACH myths! Admittedly, you probably had many other things consuming your attention in mid-March. But the new $100,000 per transaction threshold definitely offers you […]
Contactless payments gaining traction in the corporate world
Right now, health and safety are major concerns in the business travel sphere, making contactless payments an appealing option for companies.
Lax purchasing card controls cost this employer $208,540
No better time to make sure everyone carefully follows your company’s purchasing card controls. Just ask Delaware State University (DSU). In a recent audit of the school’s 6,116 p-card transactions, 487 seem to violate the policy restrictions. The cost of that lack of compliance? $208,540. The audit report uncovered a whole host of weaknesses in […]
