Advanced Fraud Solutions announces new account validation tool

The new ACH tool enables financial institutions to confirm account status and authorised user(s). TrueACH with Account Validation was developed in response to Nacha's WEB Debit Account Validation Rule, which requires financial institutions to apply a `commercially reasonable fraud detection system` to validate that an account is open and accepts ACH entries. 

TrueACH with Account Validation triangulates ACH account information against Advanced Fraud Solutions' cooperative database. With TrueACH with Account Validation, financial institutions receive real-time responses on if the account exists and is in good standing; if the account is returning transactions; if the account is closed, nonsufficient funds (NSF), or at high-risk status; if the account has a stop-payment; and if the person is authorised to transact on the account.