New Nacha Rule

New Nacha Rule: Stored Vendor Banking Information Must Be Unreadable

August 9, 2022

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Recently, an IOFM member inquired about AP’s responsibility to secure vendors’ account information in electronic files. Specifically, she asked: Do we need to redact bank account information on a vendor invoice in order to comply with Nacha guidelines? How can I find specifics for Nacha guidelines and how they apply to AP supplier information? IOFM conferred with Debra Richardson (https://www.debrarrichardson.com), Vendor Master File expert and IOFM advisor, to identify the Nacha ruling on this…

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