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ACH with mismatched name and account number

What should we do when we receive an ACH credit, but the name and account number in the record don’t match the account titling or ownership?

The ACH Rules allow for a transaction to post, automatically, by the routing number and account number in the entry. However, if the bank, for ANY reason, becomes aware that there is a mismatch (i.e. the name in the ACH entry is not on the account), other actions may be required.
For example, if a Social Security benefits payment comes to an account, and the name of the entry doesn’t match the account name, your bank MUST return the entry if it’s aware of the mismatch. Likewise, other laws may require a similar response.
Learn more about Rayleen Pirnie’s webinar ACH 201: Rules, Regs and Laws

First published on 03/29/2020

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