FasterThanFlash-ach-verification

[paper mirage]

As of now, we have disabled the bank verification process and users are able to make payments directly. But Stripe has mandated the verification part in new release. We are already capturing Bank Account Number and Bank Routing Number, I believe that we can proceed with Automatic Bank Verification.

[somber dune]

Hey! Do you have a specific concern or an error I can look at?

[paper mirage]

I just need guidance on the process.

Please correct me if I'm wrong. I need to get things implemented ASAP

[somber dune]

Have you seen the documentation around this? https://stripe.com/docs/ach#manually-collecting-and-verifying-bank-accounts

[paper mirage]

I've seen this documentation. We have received an email regarding the change in authorization

Action requested: Compliance with bank account validation rule

We’re writing to let you know about a new rule regarding bank account validation which will impact your use of ACH debits with Stripe. Starting March 19, 2022, Nacha, the organization which governs ACH payments, will require you to validate any consumer bank accounts that you attempt to debit for the first time. Because you are currently skipping verification for some or all ACH debits on Stripe, you may need to make some updates to remain compliant.

I just need to check with you whether my understanding is correct or do we need to make changes?

[somber dune]

The documentation highlights how you'd go about implementing the verification outlined there

[paper mirage]

Please read what I'm saying. I've already implemented this process. We have got this verification part disabled from stripe.
It looks like your documentation is not updated w.r.t. new changes.

[somber dune]

I imagine you were sent an email containing this link: https://support.stripe.com/questions/nacha-bank-account-validation-rule

Which outlines the 3 options available to you (2 of which are at the link I previously sent)

[paper mirage]

Yes. We received an email regarding this change.