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Glossary IPS Payments Glossary of Terms
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- NACHA
- National Automated Clearing House Association (NACHA) – The national trade association for the electronic payment associations, which establishes the rules, industry standards, and procedures governing the exchange of commercial ACH payments by depository financial institutions.
- NACHA Format
- The ACH record format specifications described in the NACHA Operating Rules and Guidelines, which are the accepted and warranted payment format standards for payments delivered through the ACH network.
- NEACH
- New England Automated Clearing House is one of 8 regional districts that help NACHA more effectively do their job. It is a non-profit association that helps its members originate and receive ACH (electronic) transactions and provides products, services, education and marketing to increase the acceptance, use and quality of electronic transactions. This is Innovative Payment Solutions regional provider.
- Notification of Change
- Information sent by an RDFI to notify the ODFI that previously valid information for a receiver has become outdated or that information contained in a pre-note is erroneous. These items have the standard entry class code COR.
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