NACHA – The Electronic Payments Association manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data in the United States. It is funded by the financial institutions it governs. The ACH Network serves as a network for direct consumer, business, and government payments, and annually facilitates billions of payments such as Direct Deposit and Direct Payment. Utilized by all types of financial institutions, the ACH Network is governed by the NACHA Operating Rules, a set of fair and equitable rules that guide risk management and create certainty for all participants.
As a not-for-profit association, NACHA represents nearly 11,000 financial institutions via 17 regional payments associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholders to enable innovation that strengthens the industry with creative payment solutions.
NACHA is not directly involved in the ACH transactions that flow to and from organizations and financial institutions, nor does NACHA send communications to individuals or organizations about individual ACH transactions.[1] Holders of e-mail accounts have been subjected to various phishing scams [2] as well as emails containing or linking to malware. [3] [4] [5]