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A September 15, 2006 amendment to the NACHA Operating Rules provides a means of identifying business checks that are ineligible for check conversion, and provides businesses with the ability to opt out of check conversion.
The Rule Change in Brief
The September 2006 NACHA Rule limits the conversion of consumer or business checks to items of $25,000 or less, and also:
- Assists businesses and financial institutions in identifying which checks are ineligible for conversion under ARC and POP.
- Allows businesses to take steps to prevent their check from being converted at a point-of-purchase, at a lockbox, or at a dropbox.
- Adds a new Return Reason Code (R39) so financial institutions can return ineligible items that are converted under ARC and POP.
Learn more about identifying business checks ineligible for conversion »
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