Nacha, the electronic payments association, has released educational materials to help banks and merchants prepare for a new payments format that will let businesses convert paper checks into automated clearing house payments in their back offices.
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The back-office conversion rule takes effect in March. It is similar to the accounts receivable conversion format that permits lockbox operators to convert checks into ACH files; that format has been available since 2002 and has become one of the payments industry's biggest success stories.
The new conversion format requires merchants to notify customers that they plan to convert their checks into ACH payments. The training materials are available online at
