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Is Every Payment Under $1 a Micro-Entry?

Not all ACH transactions under $1 are subject to the new Nacha Micro-Entry Rule taking effect September 16.  The definition hinges on two very important words in the new Rule: account validation. The Rule defines Micro-Entries as ACH credits less than $1, and the offsetting ACH debits, used for the purpose of verifying a Receiver’s account. If an item does fit the definition, ‘ACCTVERIFY’ must be used in the Company Entry Description field.