The rules for accepting ACH payments are governed by the NACHA. Obtaining an appropriate ACH authorization to process an ACH payment protects your business from litigation. An auction authorization form generally states that companies that accept payments through a current account or savings account (i.e. a savings account) must obtain a signed agreement (ACH authorization) authorizing the charge or repayment of the bank account to a customer or business. The ACH authorization must be signed before the ACH transaction and the signed ACH authorization must remain in the file for at least two years. If a customer contests an ACH transaction and no authorization form has been obtained, the company could lose the dispute. If you would like to collect a copy of the ACH authorization form on paper, we have provided a release form below. All PayJunction vouchers contain most of the information required to obtain an ACH authorization form. We recommend that you add an additional language to the exclusion of the reception in order to comply with the guidelines of the ACH authorization form. The signature on the ACH receipt can be used as a backup if no ACH authorization is obtained.
In accordance with DA rules, there are a few additional reasons why a customer can challenge an ACH transaction: Instructions to update the disclaimer for PayJunction`s supporting documents.