Are your clients ready for the NACHA June 22 ACH vendor verification changes?
Hey everyone — wanted to flag something that's been coming up with several of my clients lately and curious if others are seeing the same thing.
NACHA's updated rules go live June 22, and they raise the bar for verifying vendor bank account details before sending ACH payments. Basically, if a client sends an ACH payment to an unverified vendor account and it turns out to be fraudulent (account takeover, fake vendor, etc.), they have significantly less protection under the new rules.
A few of my clients have dozens of vendors in QuickBooks with bank details that were never formally verified — just entered from an email or phone call years ago. That's a real exposure right now.
I've been running quick vendor bank account verification checks before the deadline. Curious what workflows others are using:
- Are you proactively telling clients about the June 22 changes?
- Do you have a process for verifying vendor bank details in bulk?
- Has anyone had a client get hit with ACH vendor fraud already?
Would love to hear how others are handling this — feels like a ticking clock with 25 days left.