Validating vendor ACH information

June 15, 2020


Q. What are best practices to validate vendor ACH information? There are cases where hackers will gain access to someone's account and ask for the ACH info to be updated. They provide a fraudulent account number that usually is closed as soon as the ACH transfer happens. Besides asking for a copy of a voided check, what other options do companies dealing with about 10,000 payments a week have? It would not be feasible for us to send a penny test or call every single vendor that submits ACH…

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