Attention US members: ACH transactions can no longer be sent across international borders

Important note before reading:

This will not affect international bank wires nor will it affect any US-based ACH transactions initiated through our system. Although AlertPay is located in Canada, we have banking partners all over the world to process these transactions, including in the United States.

According to the NACHA - the Electronic Payments Association, ACH transactions that begin in one country and end in another will be formatted as a new transaction type: IAT (International ACH Transaction).

This is to say that US citizens will not be allowed to perform cross-border ACH transactions. Rather, the transactions will have to be classified as international in an attempt to help law enforcement agencies detect, investigate and prosecute money laundering and other financial crimes.

Recognizing international transactions will help law enforcement officials readily identify international payments and create a paper trail to track the comings and goings of money.

Please note that IAT transactions are not permitted through certain banks, such as Chase Commercial Online.

Please take a moment to review the following resources for more details.

Thank you for your time.

Resources:

https://www.chase.com/ccp/index.jsp?pg_name=ccpmapp/commercial/prod_serv/page/iat_transactions

https://www.key.com/html/international-ach-transaction-iat.html

http://www.frbservices.org/eventseducation/education/fedach_iat_resource_center.html

http://www.nacha.org/IAT_Industry_Information/