Answer by Randy Carey: Technically you are only responsible to make sure the account number is valid. However, there are numerous things wrong with this situation and I would call the customer and tell them to change it because you will be returning all future deposits (allowed under NACHA rules) after a reasonable time for them to make the change.
Answer by John Burnett: To my knowledge, Treasury does not send a prenotification entry for new direct deposit arrangements. But if you become aware that your corporate customer's account is receiving a direct deposit of funds belonging to an individual, you should follow Randy's advice.
First published on BankersOnline.com 4/1/13