Thread Starter: Anonymous
Title: Re: Real Time Payments NACHA Rules
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From the Real Time Payments NACHA Rules
Foreign Payments. The RTP System shall be used by Participants only to effectuate RTP
Payments between a Sender and Receiver whose Accounts are located in the United
States of America. To the extent a Sender sends or a Receiver receives a Payment on
behalf of another Person, whether such Sender or Receiver is a Payment Service
Provider or not, the Person on whose behalf the Sender sends or the Receiver receives
must be a resident of or otherwise domiciled in the United States. Participants must
inform Senders and Receivers of their obligation to comply with this restriction
regarding Payments sent or received on behalf of other Persons and with OFAC
regulations in the legal terms that govern their Customers’ use of RTP.
Are there any consumer disclosure requirements? If so this is the first I have heard of this, but I'm not necessarily a NACHA expert. Any guidance would be appreciated. Thanks.
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