October 2015In this issue:
- Same Day ACH
- Data Security
- Columbus Day Holiday
- Policy on Marijuana
- Nacha Rules
- Pay Now Payment Portal
- Payroll Fraud
- What's Happening
- Employee Spotlight
Did you know?October ends on the same day of the week as February every year.
Customer Support TipsHow to inactivate clients
Login to our website. Select Reports -> Click on the Other tab -> Active Company Report -> Show Report. Under the Action column click on Inactivate next to the client you want to inactivate.
InterceptEFT CalendarThomson Reuters Synergy Conference
Execupay Users Conference
San Antonio, TX
Drake Software Update School
Drake Software Update School
Las Vegas, NV
Symphony Payroll Solutions
Federal Reserve Approves Same Day ACH Transactions
Do you have a security policy in place?
|InterceptEFT would like to remind you about the Nacha rule requiring participants in the ACH Network to establish a data security policy and procedures to protect confidential information.|
Due to your involvement with confidential account information and other information considered protected, your company is required to have a security policy. If you need assistance establishing a policy, please visit the Better Business Bureau website.
Columbus Day is Monday, October 12th
Because Federal Reserve Banks and InterceptEFT will both be closed, ACH transactions cannot be dated for October 12th. Columbus Day is a non-processing holiday. To avoid additional charges/penalties, please allow an extra day for processing
Are you ready for the new EMV Guidelines?
You may have noticed a "chip" embedded into your new credit cards. This new chip creates a unique transaction code that cannot be used again in order to protect cardholder data and reduce fraud.
Effective October 1st, the new EMV Technologies and the liability shift took effect. With these new changes, the liability for card-present fraudulent transactions falls to the party that is the least EMV compliant.
If a customer uses a chip card that was stolen and the merchant has a non-EMV terminal, the merchant is liable for that fraudulent transaction.
Questions? Contact InterceptEFT today!
InterceptEFT's Policy on Marijuana
It is InterceptEFT's policy not to provide services, including processing and payroll processing, to businesses in the illegal narcotics and drug paraphernalia industries. Although some states have made it legal to sell marijuana in certain situations, including medical marijuana, our policy has not changed. InterceptEFT will not process payments for any business that distributes marijuana, even medical marijuana or marijuana that is legal under state law. If you have any questions, please contact the InterceptEFT Risk Department.
The Nacha Rules are online for FREE!
Stay up-to-date with the most current Nacha Rules. The Nacha Rules are available for FREE online by simply setting up a Basic User account. Visit the Nacha Rules Online by clicking here.
Let InterceptEFT help you integrate a Pay Now Payment Portal into your website and give customers another payment option. Choose a ready-to-use template or customize with your logo and colors.
Payroll Fraud is on the Rise
The industry has seen a number of instances of potential fraud recently, and would like to remind everyone to be on alert. As the processor, it is your responsibility to cover the lost funds so it's important to be diligent and know your customer. To help identify possible fraud, we have compiled a list of "red flags," which may be indicative of payroll fraud:
- Employee accounts are PAYCARDS
- Hurried set-up requested by new payroll customer
- Communication only via email from payroll customer or communication that seems abnormal
- Customer and its employees are in geographically diverse locations
- And more…
Be diligent about protecting your business by knowing your customer! To learn more and to find solutions click here.
What's Happening at InterceptEFT?
Proceeds from the 6th Annual InterceptEFT Golf Extravaganza provided 26 students with scholarships. For the past 6 years, the InterceptEFT Golf Extravaganza has helped to provide over 100 scholarships to local students in the Fargo-Moorhead area.
|Ginger Wallace - Sales Representative Ginger graduated from Moorhead State University with a degree in Elementary Education. In her spare time she enjoys reading and spending time with family and friends at the lake, including her son, daughter and 3 grandsons. She also enjoys traveling the world and has plans to travel to Ireland next!|
Ginger has been with InterceptEFT for 11 years where she started as the Returns Coordinator. She has been a member of our Sales team for the past 8 years. Her favorite part of working at InterceptEFT is her co-workers and the opportunity to travel to various tradeshows visiting with current and potential customers. Maybe you'll see her out on the road!
Fun Fact about Ginger: She was a flight attendant with United Airlines, based in Chicago, for 3 years - must be why she loves to travel!