Summary

In 2023, Nacha issued a Request for Comment on a proposal to standardize the use of the Individual Name field in consumer ACH Entries. While the proposal did not move forward to ballot, Nacha recommends that Originators and their Third-Party Service Providers consider voluntary adoption of the Individual Name field standard that was originally proposed. Standardization of the Individual Name field can provide benefits for monitoring Entries for potentially fraudulent payments.

This Operations Bulletin does not require any party to use the voluntary standard, nor to make use of the information contained in the Individual Name field beyond the requirements of the Nacha Operating Rules. This Operations Bulletin also does not require RDFIs to perform name matching when receiving, processing, and posting ACH Entries. The Nacha Rules permit an RDFI to rely solely on the account number when posting an Entry. Finally, this Operations Bulletin does not allow an RDFI to return an Entry solely because the name is not in this format.