Accurate Routing Transit Numbers are Key to Smooth ACH Transactions
Learn about the importance of accurate routing transit numbers and how Nacha and LexisNexis® Risk Solutions collaborate to deliver these.
As the years progress, ACH payments are increasing in popularity and in usage but when using such a payment method, it’s important to have the right data and information available. John Hutton, Global Head of Payments, LexisNexis® Risk Solutions joined FinextraTV for this interview, exploring what ACH payments are and what risks can be involved. Hutton goes on to discuss both the simplistic detail of having the right routing transit number and how their organisation works in collaboration with Nacha to bring the right data to clients.
A Routing Transit Number (RTN) file usually contains information about the routing numbers used by financial institutions in the United States. These numbers are essential for processing checks and electronic transactions.