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Add a NACHA Processor

Updated 2 weeks ago by Cole

The Merge Transactions feature is new to LoanPro's latest release.

General

You can use the LoanPro interface to add a NACHA processor to your Secure Payments (formerly PCI Wallet) account. Using NACHA files is a way to submit payments to payment processors that don’t have an API. A NACHA file is a payment file that is formatted in the way banking systems are set up to accept. A NACHA file can instruct that funds be sent to you or sent from you.

How To

To add a new NACHA processor, navigate 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.

Scrolling down reveals a few Settings options:

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).

  • This is a drop-down that is in 24-hour time and you can choose any 15 minute increment. As stated above, cutoff time is in UTC, so you will need to know the conversion to your local time zone to get the correct hour (e.g. choosing 1 would be 1:00 AM UTC time, which is 7:00 PM in Mountain Daylight Time).
  • When the process runs, all transactions without a batch ID are added to the NACHA file. This is set to happen automatically once a day so that NACHA files can be created and submitted each day before the cutoff time for bank processing.
  • If you create a NACHA file manually at any point, it will include all transactions without a batch ID to ensure that transactions are only included in a single NACHA file.

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 entered the information needed for the processor, choose the settings you want for this processor. Settings include:

  • Bypass Processing – The transaction will not even be sent to a processor. This is used for testing.
  • 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.

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