Nacha answers questions on stimulus payments

Apr 10, 2020

Nacha published frequently asked questions on the COVID-19 pandemic with answers to community banker questions about Economic Impact Payments to taxpayers sent via ACH.

With the first tranche of payments scheduled to go out today, the FAQs include information on: what to do when an ACH payment hits a closed account, garnishment exemptions, and more.

ICBA continues updating its frequently asked questions on stimulus payments, including with information on Treasury's check-verification system and new routing numbers to accommodate the payments.