Add a NACHA Processor
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:
This is the name you are giving to this NACHA processor to distinguish it from other NACHA processors you might create.
This is your company name in the way your bank has it on file. See your bank statement if you’re not sure.
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.
This is the hour of the day and the 15 minute increment when the batch will run, in Coordinated Universal Time (UTC).
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.
Once you have finished entering the information needed for the processor, choose the settings you want for this processor. Settings include:
Select “Yes” if you want payments that are returned to be automatically reversed in LoanPro.
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.