ACH Services FAQs
What type of ACH transactions are supported?
- One-time ACH payments
- Automated recurring payments (PPD)
- Daily, weekly (day of week), bi-weekly, monthly (date), - Batch ACH
- Pre-arranged deposits
- Pre-arranged payments
Will MoneyGram accept files from third parties?
MoneyGram can accept files securely from other systems and can support conversion of custom files from other systems.
How can MoneyGram help with risk and compliance?
MoneyGram can provide underwriting tools to help assess risk and remain in compliance. Our ACH-trained professionals can provide operational support and training. Additionally, our ACH processing program includes options available to mitigate and monitor risk:
- Limits
- Delayed and Net Settlement
- Reserves
- Returns and Exposure Reporting
Are these payments guaranteed?
ACH payments are not guaranteed because they can be returned by the bank for fraud, NSF, unauthorized user, etc. However, since the transaction is to pay a bill and the client has a relationship with the customer, the risk is generally low.
What validation services does MoneyGram offer?
There are two validation services that MoneyGram offers. Our standard offering included with Payment StationSM services validates the bank routing number and meets NACHA requirements. An additional option is offered that can give an account “positive”, “negative”, or “not found” status.
For more information, contact MoneyGram Payment Services or call 1-800-723-9777.
