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Understanding EDI Payments: Key Differences from ACH and EFT Transactions

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Standards: EDI follows strict international standards for formatting electronic documents, whereas ACH transactions comply with the National Automated Clearing House Association (NACHA) rules. Similarly, EFT involves the electronic movement of money between bank accounts but does differ in a few ways from EDI.

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How to Stay Compliant with NACHA Requirements

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Ensuring compliance with NACHA requirements is crucial for financial institutions, as it guarantees the secure, efficient, and reliable handling of electronic payments. Educational materials: A mixture of webinars, courses, and publications to educate on electronic transactions, compliance standards, and risk management practices.

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