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Same-Day ACH File Processing

NatPay now offers Same-Day ACH credits!

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New Online Returns

NatPay is excited to announce new, online returns management via My.DirectDeposit.com!

Within the next week, you will notice a new menu item in My.DirectDeposit.com called “Returns.” From this screen, you will be able to re-direct your credit returns, and see all of your withdrawal returns and correction notices.

For complete details and instructions, download the new Direct Deposit Returns Guide by clicking the link below.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.

Download the new Direct Deposit Returns Guide.

HOLIDAY NOTICE: Labor Day

If you have a file transmission that falls between the dates of Tuesday, August 30, 2016 through Monday, September 5, 2016 you may need to transmit one day earlier than your normally-scheduled transmission date.

Please review your calendar to see if these dates and times affect you. If you don’t have a calendar, please contact us.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.

COMING SOON: Two-Factor Authentication for Additional Security on My.DirectDeposit.com

In this age of phishing attacks and identity thefts, relying on a login password alone does not guarantee online security. No matter how strong or complex your primary password might be, an online account stands the risk of a breach if a password happens to fall into the wrong hands.

With hundreds of thousands of users relying on NatPay for ACH services, ensuring information security is an important priority for us.

My.DirectDeposit.com not only helps you to run your business, it holds some of your sensitive business data, which is why NatPay will be offering Two-Factor Authentication to our customers as an additional security option towards the end of August 2016.

Two-Factor Authentication adds an additional layer of protection to your My.DirectDeposit.com account so that you may rest assured that access to your account is safe and secure.

What is Two-Factor Authentication (2FA)?

2FA provides an additional layer of security to access your account. It requires two successive factors: ‘something you know’ (your password) and ‘something you have access to’ (your mobile phone or email address, for example). 2FA helps to greatly reduce account compromises due to phishing attacks and other online frauds.

How Does 2FA Work?

Once 2FA is enabled, you first log into your NatPay account with the usual credentials. You will then receive a uniquely-generated verification code to your phone as an SMS text message, or a specified email address which you then enter on My.DirectDeposit.com to complete the login process.

Two-Factor Authentication

Optional, But Highly Recommended 

2FA is completely optional. But, from a security standpoint, 2FA is highly recommended. Security benefits of 2FA far outweigh the minor inconvenience of having to authenticate through a two-step process.

HOLIDAY NOTICE: Thanksgiving, Christmas & New Years 2015

NatPay and its processing banks have the following holiday schedule. Please review your calendar to see if these dates and times affect you. If you don’t have a calendar, please contact us.


Thursday, 11/26/2015, Thanksgiving Day: 
NatPay Closed

If you have a file transmission that falls between the dates of Friday, November 20, 2015 through Thursday, November 26, 2015 you may need to transmit one day earlier than your normally-scheduled transmission date.


Thursday, 12/24/2015, Christmas Eve Day: 
NatPay closes early at 6 p.m. ET

Wire customers please note: 
American Momentum Bank will be closing early at 1:30 p.m. ET on Christmas Eve Day. Any wires received after this time will not be processed until the following business day.

Friday, 12/25/2015, Christmas Day: 
NatPay Closed

Thursday, 12/31/2015, New Years Eve Day: 
NatPay operates normal hours 9 a.m. to 10 p.m. ET

Wire customers please note:
American Momentum Bank will be closing early at 3:30 p.m. ET on New Years Eve Day. Any wires received after this time will not be processed until the following business day.

Friday, 01/01/2016, New Years Day: 
NatPay Closed

If you have a file transmission that falls between the dates of Friday, December 18, 2015 through Friday, January 1, 2016 you may need to transmit one day earlier than your normally-scheduled transmission date.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.

 

HOLIDAY NOTICE: Veterans Day

Wednesday, November 11, 2015 (Veterans Day) is a Federal Banking Holiday.The Federal Reserve will be closed on this day, as well as NatPay.

If you have a file transmission that falls between the dates of Thursday,November 5, 2015 through Wednesday, November 11, 2015 you may need to transmit one day earlier than your normally-scheduled transmission date.

Please review your calendar to see if these dates and times affect you. If you don’t have a calendar, please contact us.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.

Proof of TIN

There are certain requirements that must be met when providing proof of a company’s tax ID number.

Handwritten documents are NOT acceptable.

The following types of documents will be accepted by NatPay:

  • SS4 Form or Letter 147C

  • Filed 941 or 940 Form (Both pages with a signature under Part 5.)

  • Form 8865 or 8821 (Both forms in a printed format and with a signature on the bottom page.)

  • Screenshot of EFTPS Batch Provider Enrollment that displays the legal business name of the company and their EIN or TIN number.

  • An official governmental form that contains the printed FEIN number and the legal business name of the company. If the document requires a signature, it must be signed.

HOLIDAY NOTICE: Labor Day

Monday, September 7, 2015 (Labor Day) is a Federal Banking Holiday. The Federal Reserve will be closed on this day, as well as NatPay.

If you have a file transmission that falls between the dates of Tuesday, September 1, 2015 through Monday, September 7, 2015 you may need to transmit one day earlier than your normally-scheduled transmission date.

Please review your calendar to see if these dates and times affect you. If you don’t have a calendar, please contact us.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.

Same-Day ACH Processing

Same-day ACH processing is a trending topic these days. There are many questions and concerns about how this new service will affect day-to-day business as each of its three phases become effective over the next few years.

To help understand some of the specifics, an outline is provided below:

  • Same-day ACH processing will be implemented in three phases:
    • Phase 1 will become effective on September 23, 2016
    • Phase 2 will become effective on September 15, 2017
    • Phase 3 will become effective on March 16, 2018
  • Banks will have two deadlines to submit same-day ACH transactions:
    • A morning submission deadline of 10:30 a.m. ET, with settlement occurring at 1 p.m. ET.
    • An afternoon submission deadline of 3 p.m. ET, with settlement occurring at 5 p.m. ET.
  • Virtually all types of ACH payments including credits, debits, and tax payments, will be eligible for same-day processing.
  • High-value transactions above $25,000 will not be eligible.
  • All banks would be required to receive same-day ACH payments, thereby giving customers the certainty of being able to send same-day ACH payments to any and all bank accounts.
  • Banks will not be required to send same-day ACH transactions, they will only be required to receive those transactions.
  • Banks would be mandated to make funds available from same-day ACH credits (such as payroll direct deposits) to their depositors by 5 p.m. by that bank’s local time. (By phase 3. Before phase 3 it is unclear, but most likely it will be by the next morning.)
  • The fee for these transactions will be several times greater than normal ACH processing fees.
  • Phase 1 will ONLY be for deposits or credit transactions. Debits will be in a latter phase.

One very important note is that the Federal Reserve has not approved, or signed off on these changes. All of this will depend upon their ultimate approval.

As you can guess, there are a few technical details that have to be worked out. Some of challenges NatPay faces are:

  • How to tell if a file received in the morning is same-day, or regular.
  • How to handle the employee complaints when their deposits aren’t available first thing in the morning.
  • Will our customers’ payroll software be able to adjust the timing to create same-day NACHA files?
  • How best to adjust our systems to allow for same-day timing. Currently, if you send a file today dated for today, the file rejects.
  • How to best handle the increased risk that will result from depositing the money so quickly.

NatPay is committed to offering our customers the services they need which includes same-day ACH processing. We look forward to implementing this new service over the next few years as we communicate with our customers about their specific needs.

NatPay would very much like to hear from you about how you envision this change improving your business.

Click here to contact us today!

 

 

 

 

 

 

 

 

 

ABA Urges Fed to Back NACHA Same-Day Payments Rule

ABA today urged the Federal Reserve to approve the recent rule change from NACHA, the electronic payments association, that would require financial institutions to have same-day ACH capability and require sending institutions to pay a 5.2 cent per-transaction fee to offset the costs of participating in same-day ACH.

ABA noted that mandatory participation and interbank compensation are essential to a well-functioning same-day ACH process. The association contrasted the NACHA plan with the regional Federal Reserve Banks’ FedACH SameDay Service, which includes a voluntary opt-in. “The program is five years old and only 100 financial institutions use it,” ABA said. “The benefits of offering this service as an ODFI are limited because there are a limited number of RDFIs that accept the faster payment.”

ABA encouraged the Fed to support the NACHA rule change — and include its provisions in the Fed banks’ operating documents — so that financial institutions can begin implementing same-day ACH for their customers without further delay. The Fed will continue to accept comments through July 2, and ABA encouraged bankers to submit comments in favor of the NACHA proposal. For more information, contact ABA’s Steve Kenneally.

 

http://bankingjournal.aba.com/2015/06/aba-urges-fed-to-back-nacha-same-day-payments-rule/

We are OPEN on July 3, 2015

Friday, July 3, 2015 is not a Federal Banking Holiday. The Federal Reserve will be open on this day, as well as NatPay.

However, we understand that some banks may be closed on Friday, July 3, 2015. If your bank is closed on this day, you may want to consider transmitting one day earlier than your normally-scheduled transmission date.

Please review your calendar to see if these dates and times affect you. If you don’t have a calendar, please contact us.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.

4th-Of-July

HOLIDAY NOTICE: Memorial Day

HOLIDAY NOTICE:

Memorial Day

Monday, May 25, 2015 (Memorial Day) is a Federal Banking Holiday. The Federal Reserve will be closed on this day, as well as NatPay.

If you have a file transmission that falls between the dates of Tuesday, May 19, 2015 through Monday, May 25, 2015 you may need to transmit one day earlier than your normally-scheduled transmission date.

Please review your calendar to see if these dates and times affect you. If you don’t have a calendar, please contact us.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.

Risk Management in the ACH World

Risk Management in the ACH World

By Steve Pereira, Vice President & General Manager of NatPay

You can’t pick up a business journal or industry magazine and not notice that fraud is definitely on the rise. It has always been a problem lurking on the edges of our businesses, but it has now become a daily worry and concern.

Risk management in the ACH world may seem quite daunting. Which is why it is critical to partner with an experienced ACH vendor that has a proven track record in loss mitigation.

Over the past 25 years NatPay has perfected several methods to combat criminal activity. Even though a multi-faceted approach is required to reduce risk and minimize fraud, there are a few simple rules to follow for effective risk management. Click here to download NatPay’s latest guide.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.

URGENT BULLETIN: Fraudulent ACH Activity

Professional Payroll Processors:

NatPay has noticed a group of criminals who have been moving from one Professional Payroll Processor to another in an attempt to defraud them by making ACH payrolls against stolen bank accounts. This group has completely compromised the banks accounts that they are using, and are able to verify pennies and pass most security checks.

NatPay is generally able to catch them if we are given time to properly underwrite the accounts before you try to send us the first payroll.

You are able to protect yourself by doing the following:

  • Do not take new accounts without meeting the customer.
  • Become suspicious when a new customer is rushing you to perform direct deposits. (Some processors do not allow a first payroll to go via ACH, and require checks to be issued.)
  • Become suspicious if all the pay amounts are even, or if the names are similar.
  • Become suspicious if the bank accounts for the employees are over 10 digits long. This indicates a Payroll PayCard. Money cannot be retrieved from a pay card.
  • Become suspicious if all of the employees use the same bank.
  • Become suspicious if the bank account for the business is with Bank Of America. This is apparently where the accounts have been stolen.

If all else fails, please take the time to call NatPay’s Operations department at 813-222-0333 with questions or concerns. NatPay is more than happy to perform the underwriting and notify you of any issues.

NatPay is also preparing an expanded guide on risk management in the ACH world that will be available soon.

Regards,
Steven F. Pereira
NatPay VP, GM, & Founding Member

HOLIDAY NOTICE: Christmas / New Year’s Day

Wednesday, December 24th, 2014 (Christmas Eve) NatPay and its banks will be closing early at 2. p.m. ET. All files and wires must be received by 1 p.m. ET to be processed on time. All items received after 1 p.m. will be processed on Friday, December 26th, 2014.

Thursday, December 25, 2014 (Christmas Day) is a Federal Banking Holiday. The Federal Reserve will be closed on this day, as well as NatPay.

Thursday, January 1, 2015 (New Year’s Day) is a Federal Banking Holiday. The Federal Reserve will be closed on this day, as well as NatPay.

If you have a file transmission that falls between the dates of Friday,December 19, 2014 through Thursday, January 1, 2015 you may need to transmit one day earlier than your normally-scheduled transmission date.

Please review your calendar to see if these dates and times affect you. If you don’t have a calendar, please contact us.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.

HOLIDAY NOTICE: Veterans Day

HOLIDAY NOTICE:

Veterans Day

Tuesday, November 11, 2014 (Veterans Day) is a Federal Banking Holiday.The Federal Reserve will be closed on this day, as well as NatPay.

If you have a file transmission that falls between the dates of Wednesday,November 5, 2014 through Tuesday, November 11, 2014 you may need to transmit one day earlier than your normally-scheduled transmission date.

Please review your calendar to see if these dates and times affect you. If you don’t have a calendar, please contact us.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.

Enhanced Direct Deposit Features

NatPay is excited to announce several new features and enhancements to our Direct Deposit processing systems. These updates include:

• Completion of the Returns System upgrade
• Downloadable returns in spreadsheet format
•  Enhanced system security features
• Improved wire-client management

Returns System Upgrade

NatPay has recently completed the upgrades to the Returns System to boost productivity, and process returns with greater precision.

Downloadable Returns

Beginning 09/09/2014 NatPay will offer our payroll processors the ability to download their returns as a spreadsheet from my.directdeposit.com.

If you have returns, a spreadsheet will be available each morning that shows your returns for the day. After NatPay’s first closeout, around 5:00 p.m. ET, a second spreadsheet will be available outlining the resolution details for each return.

Enhanced System Security Features

For enhanced security and functionality, NatPay’s Direct Deposit processing systems now support multiple, unique login IDs for a client’s account. Each unique login ID may have its own password, and varying degrees of permissions set for controlled system access.

Please note that beginning in October 2014, ONLY the payroll processors that are setup for enhanced system security will have the ability to use the Manual Entry feature of the system.

Improved Wire-Client Management

If you upload a file to my.directdeposit.com for a client marked asALWAYS wire, the system will ask you to confirm that this is a wire client. Additionally, you will have the option to change the funding method for this particular file to ACH. Please keep in mind that normal timing limitations apply.

Processors who have clients that OCCASIONALLY wire funds will be able to designate a batch as a wire batch while doing the upload beginning on 09/09/2014.


To see demonstrations of the new features, or signup for those that you are interested in, please contact:

Dawn Cafaro
[email protected]
813.222.0333 x104

New, Wire Transfer Draw-Down Services from NatPay

 Reverse Wires

National Payment Corporation (NatPay) now offers Wire Transfer Draw-Down Services (Reverse Wires) to our Professional Payroll Processors (PPPs).

What is a Reverse Wire?

A Reverse Wire authorizes NatPay to withdraw funds from a PPP client’s account via a wire transfer based on the client’s pre-approval.

A Reverse Wire wire is initiated by the recipient of the funds (NatPay), rather than by the PPP client.

Benefits of a Reverse Wire

Convenience. Once the Reverse Wire has been set up, there is no additional time or effort required from a PPP client for each wire.

Good Funds. A wire, whether Reverse Wire or standard, is considered “good funds” and mitigates risk for a PPP.

Getting Started with Reverse-Wire Services

It is easy to get started with NatPay’s Reverse-Wire Services. Start by filling out the form below to let us know that your are interested. We will then contact you with more information.

Submitting...

HOLIDAY NOTICE REMINDER: Christmas & New Year’s

Christmas Hours:

Wednesday, December 25, 2013 (Christmas Day) is a Federal Banking Holiday. The Federal Reserve will be closed on this day, as well as NatPay.

If you have a file transmission that falls between the dates of Thursday, December 19, 2013 through Wednesday, December 25, 2013 you may need to transmit one day earlier than your normally-scheduled transmission date.

Also, both NatPay and our processing banks will be closing early on Tuesday, December 24, 2013 (Christmas Eve) at 2 p.m. ET. All files and wires received after 2 p.m. ET will be processed on Thursday, December 26, 2013.

New Year’s Hours:

Wednesday, January 1, 2014 (New Year’s Day) is a Federal Banking Holiday. The Federal Reserve will be closed on this day, as well as NatPay.

If you have a file transmission that falls between the dates of Thursday, December 26, 2013 through Wednesday, January 1, 2014 you may need to transmit one day earlier than your normally-scheduled transmission date.

Also, NatPay’s banks that process bank wires will be closing early on Tuesday, December 31, 2013 (New Year’s Eve) at 4 p.m. ET. All bank wires received after 4 p.m. ET will be processed on Thursday, January 2, 2014. (Please note that NatPay will be open normal hours New Year’s Eve.)

Please review your calendar to see if these dates and times affect you. If you don’t have a calendar, please contact us.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.