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Prohibiting ACH for Escrow: Business Decision

Our practice is not conducting ACH transactions for Trust account​s​ such as Escrow​s​. Is there any compliance reason to prohibit ACH for escrow or is it merely a business decision? Escrow company doesn't conduct ACH transactions but wires or check only.

by Randy Carey:

It is business decision. If the customer doesn't have the need for the service, I don't think you want to turn it on.


by John Burnett:

NACHA rules require that bank accept incoming ACH items for transactions accounts. But you don't have to allow everyone to originate ACH entries.

First published on 08/05/2018

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