Add a NACHA Processor
Updated 8 months ago
Introduction
This article explains how you can use the LoanPro interface to add a NACHA processor to your Secure Payments account. NACHA files are specially formatted .txt files, used by US-based banks and other financial institutions to communicate transactions. A NACHA file can instruct that funds be sent to you or sent from you.
How to Add a NACHA Processor
To add a new NACHA processor, navigate within LMS to Settings > Company > Merchant > Secure Payments and go to the BANK ACCOUNT/ACH (USA) tab. Click Add Processor.
Make sure you have “NACHA” selected from the “Processor Type” drop-down menu.
Now enter the following:
Field | Explanation |
Processor Name | This is the name you are giving to this NACHA processor to distinguish it from other NACHA processors you might create. |
Company Name | This is your company name in the way your bank has it on file. See your bank statement if you’re not sure. |
Bank Name | This is the name of your bank. |
Bank Routing/ Transit Number | This is the routing or transit number for your bank. |
Company EIN / TAX ID | This is your company’s Employer Identification Number or Tax Identification Number. |
Company Discretionary Data (not required) | This field allows your company to include codes significant only to you (e.g., a batch number for a specific NACHA file). There will be no standardized interpretation for the contents of this field. |
Cutoff Time | This is the hour of the day and the 15 minute increment when the batch will run, in Coordinated Universal Time (UTC).
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Merge Similar Transaction | If two transactions are made on this NACHA processor with the same account number and routing number, they will merge into a single transaction. (Two $100 payments from the same account, for instance, would show up as a single $200 transaction.) The payments will still show up separately in LMS and Secure Payments, but are merged in your unbalanced NACHA file. This helps you save time processing the data. |
Batching
To specify which days a batch can be created: select a cutoff time, time zone, batching days, and banking holidays (if applicable). This should be specific to the bank that processor your NACHA/CPA005 batches. The parameters are set in LMS which communicates with Secure Payments to create the batch.
Field | Explanation |
Cutoff Time | This is the hour of the day and the 15 minute increment when the batch will run, in Coordinated Universal Time (UTC).
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Time Zone | This allows you to select a time zone for the cutoff time. Time Zones will be updated automatically to reflect daylight savings time shifts.
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Batching Days | This feature allows you to pick what days the NACHA batch will generate. To select batching days, check the correlating box. This will tell Secure Payments when a batch can be created. |
Exclude Banking Holidays | Checking this box will tell Secure Payments not to batch on banking holidays. The calendar icon allows you to customize dates to match your bank's holidays. |
Settings
Once you have finished entering the information needed for the processor, choose the settings you want for this processor. Settings include:
Setting | Description |
Auto Reversal | Select “Yes” if you want payments that are returned to be automatically reversed in LoanPro. |
Default Processor | Select “Yes” if you want this processor to be the default for new AutoPays. |
Once you've finished entering in the correct information, click Save.