NACHA And International ACH Transactions (IAT)
Last updated on OCTOBER 06, 2016
Applies to:Oracle Payables - Version 22.214.171.124 to 12.0.6 [Release 11.5 to 12.0]
Information in this document applies to any platform.
Due to the new NACHA changes, is there any way we can distinguish regular ACH Payment Batch from IAT (International ACH Transactions) Payment Batch?
Does Oracle plan to release any patch for this soon? Or can we add a new Payment Method in the Payables Lookups for IAT?
NACHA developed a new Payment Format called NACHA IAT Format to enable US Department of the Treasury Office of Foreign Assets Control (OFAC) to properly identify and screen international payments moving through the ACH system.
A new payment format is needed as per the specifications.
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