February 2015In this issue:
Did you know?Four past presidents have birthdays in February: George Washington, William Henry Harrison, Abraham Lincoln and Ronald Reagan, although none of their birthdays fall on President's Day.
Customer Support TipsTo access the updated contracts, log in to our website, click on Documentation and then Agreements.
InterceptEFT CalendarIPPA Sales & Marketing Workshop
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The Payroll Group
PASBA Spring Marketing
We have always been extremely impressed with their responsiveness and the attention to detail provided by their staff.-Writ Baese
Hill Country Payroll
Updated Agreements and Forms for Payroll Processors
Some of our agreements and forms have been updated including the Company Authorization Agreement and Authorized Individuals Form. As of March 1, 2015, previous versions of these documents will no longer be accepted. After this time, if an outdated or incomplete document is submitted, the contract will be pended and batches will not be processed until current and complete paperwork is received. Your assistance will help avoid processing delays and ensure timely processing of your ACH files.
Please assist InterceptEFT in complying with regulatory requirements by using the most current version, and completely filling out documents before submitting to InterceptEFT. The most current versions of our agreements are always available by logging into our website.
You do not need to re-send any agreements for your existing clients; these changes will only affect any future contract submissions.
Payroll Fraud is on the Rise
The industry has seen a number of instances of potential fraud recently, and would like to remind everyone to be on alert. As the processor, it is your responsibility to cover the lost funds so it's important to be diligent and know your customer. To help identify possible fraud, we have compiled a list of "red flags," which may be indicative of payroll fraud:Red Flags:
Be diligent about protecting your business by knowing your customer! To learn more and to find solutions click here.
Contact us today to get started!
Upcoming NACHA Rule Changes
InterceptEFT wants you to be aware of an upcoming NACHA Rule change regarding return rate thresholds. Effective September 18th, 2015, new rules will be in place to further improve ACH network quality by reducing the incidence of returned entries. As we learn more about how this change will impact our customers, we will communicate with you. To learn more, click here.
Thank you to our wonderful customers!
InterceptEFT has had a busy start to 2015 with a few new record breaking events. The number of new processor set-ups was an all-time high. Also, on January 29th, we set a new record number of transactions processed on a single day. From all of us at InterceptEFT, we want to say Thank You for your continued business! We couldn't do it without great customers like you!