What You Need To Know

On September 18th, 2009, the new NACHA rule governing International ACH Transactions (IAT) will go into effect, allowing the ACH network to process both inbound and outbound international transactions, while monitoring for OFAC compliance. The IAT will replace the existing cross-border ACH transaction types and will apply to both consumer (PBR) and business (CBR) transactions. Our ACH Operations and IT departments are working hard to make sure Regions will be ready in advance of the implementation date, and we want to make sure you are aware and prepared for the new rule as well.

The NACHA website provides detailed information on International ACH Transactions and how you may be affected. Please visit http://www.nacha.org/IAT_Industry_Information/ and scroll down to the IAT Corporate Toolkit section to find FAQs, scenarios, and other documents to help you better understand the upcoming rule change.

The new IAT rules state that ACH payments involving a financial agency outside of the territorial jurisdiction of the United States must by classified as an IAT. As of September 18, 2009, transactions that are not classified correctly will not be processed. If you believe that ACH transactions you are currently originating may be affected by the IAT rule change, please contact your Treasury Management Sales Specialist, or contact Regions Commercial Client Services at 1-800-787-3905.