NACHA Mandatory Unauthorized Entry Fee Notification

Effective October 3rd 2016, the National Automated Clearing House Association (NACHA) will begin implementing a mandatory Unauthorized Entry Fee to all Originating Depository Financial Institutions (ODFI) which will allow for all Receiving Depository Financial Institutions (RDFI) to be reimbursed for a portion of their costs involving the process of returning unauthorized transactions as well as incentive to reduce the number of originated unauthorized transactions entering the ACH processing network. As a result, iStream will incur additional returned item costs from its clearing bank partners and will be increasing the ACH unauthorized return fee to $20.00 per item. The standard ACH return fee will be unaffected by this change. The increase will be effective with October 2016 activity for which billing will occur the first week of November 2016. Should you have any questions, please do not hesitate to contact your iStream customer care or sales support representative.”

We were approached by many banks to use their product but since iStream and SchoolLeader were an all-in-one solution, it was the best way to go, we saved time and money! Cory Bullock - Kiddie Academy of League City
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UCC Article 4A Disclosure