HERNDON, Va. – New rules from NACHA will permit consumers to make e-check payments over the phone. The rules, which went into effect Sept. 14, allow merchants, billers and government agencies to offer an e-check payment option over the telephone. It will be processed using the ACH network and will take one to two days to be posted to a checking account. The consumer's verbal authorization of an e-check over the phone is either tape-recorded or a written confirmation notice is sent to the consumer. NACHA has been conducting an e-check pilot program since July of 1999. To date, it has produced 10.5 million e-checks.
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