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What Happens When You ACH a Dead Person?

254 点作者 saarons超过 5 年前

8 条评论

itcrowd超过 5 年前
This reminds me of a question I&#x27;ve had for the longest time (+): why is it that in the US wiring money between accounts is so expensive or difficult? Whole ecosystems of companies have sprung up (PayPal and Stripe come to mind, and apps such as TransferWise) to reduce the friction when the banks could easily set up a way cheaper system that would actually be better (privacy etc.) for the consumer. The EU seems to be much better at this .. ?<p>(+) Partial answer found here, but not satisfying <a href="https:&#x2F;&#x2F;money.stackexchange.com&#x2F;questions&#x2F;27474&#x2F;why-are-wire-transfers-and-other-financial-services-in-canada-so-much-more-expen" rel="nofollow">https:&#x2F;&#x2F;money.stackexchange.com&#x2F;questions&#x2F;27474&#x2F;why-are-wire...</a>
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teilo超过 5 年前
Ah, NACHA, oh how I hate thee.<p>If only NACHA files <i>were</i> JSON as shown in the example in the article.<p>I wrote a NACHA processor in MS Access many years ago for a client in the insurance industry. That thing is <i>still</i> being used. God, I wish it would die. Although, I&#x27;m not sure which is worse: Parsing and generating the NACHA record format, or trying to parse and generate JSON in VBA.<p>Why MS Access? Their entire claims processing system (which I did not write) ran on it. I only <i>just</i> got that damn thing migrated to an MSSQL backend. The pain.
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kyrra超过 5 年前
As someone who has worked on integrating with BACS (UK version of ACH) they have the have the same code.<p><a href="https:&#x2F;&#x2F;gocardless.com&#x2F;direct-debit&#x2F;receiving-messages&#x2F;#auddis-messages" rel="nofollow">https:&#x2F;&#x2F;gocardless.com&#x2F;direct-debit&#x2F;receiving-messages&#x2F;#audd...</a><p>&quot;2 Payer deceased You have attempted to set up a DDI on the account of someone who is deceased. Extremely rare.&quot;
killjoywashere超过 5 年前
The Social Security Administration&#x27;s Death Index and Death Master File are a great resource. Too bad they make it such a pain to get.<p>The US military keeps its own death file for its beneficiary population (all members of the military, retirees, and their dependents). I have been told (not surprisingly) that there are disagreements between the various authorities on who exactly is dead.<p>So, even if you get an R15 and the bank tells you they certified the death against the SSA&#x27;s MDF, they may only be mostly dead.
runako超过 5 年前
Relevant podcast on the workings of ACH, if you&#x27;re interested in something less technical than this post:<p><a href="https:&#x2F;&#x2F;www.npr.org&#x2F;sections&#x2F;money&#x2F;2018&#x2F;01&#x2F;10&#x2F;576879734&#x2F;episode-489-the-invisible-plumbing-of-our-economy" rel="nofollow">https:&#x2F;&#x2F;www.npr.org&#x2F;sections&#x2F;money&#x2F;2018&#x2F;01&#x2F;10&#x2F;576879734&#x2F;epis...</a>
ergothus超过 5 年前
Perhaps those well-versed in such arts can inform me, who knows little about ACH and the rest:<p>Why is it so slow? I get that this is a system that can work built on top of any number of manual processes, but check-cashing scams are rampant and function in world where a major bank gets a check (apparently) from a different major bank and the customer is told it is all good....and possibly weeks later the check is noted as invalid and the deposit reversed.<p>...why can&#x27;t the big players (at least) confirm things quickly? Why can&#x27;t there be an easy status to say if a check has truly &quot;cleared&quot; or not?<p>The amount of fraud committed using this must be astronomical, based on how many reports I see without really looking.<p>What is the piece I&#x27;m missing?
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paule89超过 5 年前
What is ACH?
s9w超过 5 年前
Neither the title of this post nor the article explains what ACH is. And it somehow got 15 points in 6 minutes or so. Am I missing something?<p>edit: yes, downvote me to -3. I love you all
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