June 2015In this issue:
Did you know?Two presidents signed the Declaration of Independence, John Adams (2nd President) and Thomas Jefferson (3rd President). Both died on the 50th anniversary of signing the Declaration (July 4, 1826).
Customer Support TipsHow to inactivate clients
Login to our website. Select Reports -> Click on the Other tab -> Active Company Report -> Show Report. Under the Action column click on Inactivate next to the client you want to inactivate.
InterceptEFT CalendarIPPA Business Excellence Conference
Adaptasoft Users Conference
Apex Users Conference
Thomson Reuters Synergy Conference
Intercept's knowledge of the electronic processing of direct deposits and the impact this process has on our business has proven to be an extremely beneficial service that we offer to our clients. Their professionalism helps us provide our clients with a high level of confidence in our ability to provide them with this service.-Beth Taylor
Upcoming NACHA Rule Changes
Effective September 18th, 2015, new NACHA Rules will be in place to further improve ACH network quality by reducing the incidence of returned entries. InterceptEFT wants you to be aware of the following Rule change:
Reinitiation of Entries
Return Rate Levels
Please access our online reports to determine if your company's rates exceed these levels and begin taking steps to lower your rates. If your company's rates exceed these levels, InterceptEFT may be contacting you to request a plan of how your company plans to reduce the rates. To learn more, click here.
To view reports simply login to our website and click the REPORTS tab -> Settlement tab -> Temporal Risk Analysis (30/60).
Credit Card EMV Chip Technology
If a customer uses a chip card that was stolen and the merchant has a non-EMV terminal, the merchant is liable for that fraudulent transaction.
What does this mean to the merchant?
Protect yourself and your business with Wire Drawdown from InterceptEFT. Wire Drawdown is a business-to-business transaction utilized to minimize risk by creating a good funds model. Your client pre-authorizes InterceptEFT to withdraw funds via a wire transfer to secure funds for next day settlement.
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:
Be diligent about protecting your business by knowing your customer! To learn more and to find solutions click here.
For the past 6 years, the InterceptEFT Golf Extravaganza has helped to provide over 100 scholarships to local students in the Fargo-Moorhead area. Sponsorships are available or join us for our 6th Annual InterceptEFT Golf Extravaganza on July 30th!