NACHA’s New Rules Are Here — What First New York Members Need to Know
NACHA’s New Rules Are Here
What Members Should Do
To keep your transactions running smoothly:
• Review your account information for accuracy
• Confirm your name is correct on all ACH deposits and transfers
• Update your address and phone number if needed
• Watch for your new debit/credit card arriving soon (If your current card is set to expire in the next 60 days)
How to Update Your Information
Access the secure form below. If in the app, tap More on the bottom navigation > My Tools > Secure Forms > Update Contact Information.
Go to Secure Form
Stop in to any of our eight branches
and have a team member update
your information in person.
Find a Branch
Dial (518) 393-1326, option 2 to speak with a Member Service Specialist Monday-Friday from 8 a.m. until 6p.m. or Saturday from 9 a.m. until 1 p.m.
Call the Contact Center
Member FAQs: Why Some Deposits or Transfers May Be Delayed or Returned
🛡️ Why these rules matter
These safeguards help prevent:
• Fraudulent deposits
• Identity theft
• IRS and regulatory issues
• Delays in accessing your funds
They also ensure your account remains secure and compliant with federal and industry regulations.
🧾 Why does the name on my deposit or external transfer need to match the name on my account?
Financial institutions are required to ensure that deposits and transfers go to the correct account holder. When names don’t match, it can signal fraud, misdirected funds, or an unauthorized transaction. To protect your money, we may need to review or return items that don’t match the account ownership.
❓ Common Situations and What Members Should Know
👤 “My maiden name is on the deposit, but my married name is on my account.”
If the name on the deposit doesn’t match the name on the account, we may need to verify your identity before posting the funds. What to do:
• Update your account with your current legal name and provide documentation (e.g., marriage certificate) so future deposits post without delay.
💳 “I’m paying my spouse’s bill, but I’m not on their account.”
Electronic payments should not be impacted by this.
👫 “Our joint tax refund is going into an account with only one name on it.”
Joint IRS or state tax refunds must be deposited into an account where at least one of the payees is an owner. If only one spouse is on the account: The deposit may be delayed or returned. What to do:
• Add the other spouse as a joint owner, or
• Deposit the refund into a joint account.
🏢 “A deposit made out to my business was sent to my personal account.”
Business deposits must go into a business account. Why: Business and personal funds must be kept separate for tax, legal, and fraud‑prevention reasons. What to do:
• Open a business account, or
• Contact the sender to reissue the deposit to the correct account.
👔 “A deposit with my personal name was sent to my business account.”
Business accounts can only accept deposits payable to the business or authorized signers. Why: Mixing personal and business funds can cause compliance issues and delays. What to do:
• Deposit personal funds into your personal account, or
• Add yourself as an authorized signer if appropriate for your business structure.
📞 Need help?
If you’re unsure whether a deposit or payment will be accepted, we’re happy to review it with you before it’s sent. This can help avoid delays or returns.
Online/Mobile Banking
Change your personal information easily in My First New York.
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