Announcements

Does your payments business or financial institution offer international transfers to consumers?

 In this webinar, WesPay will guide you through the maze of time frames, disclosure requirements, liabilities and consumer rights. Join us and hear new information related to the CFPB’s recent amendments to the safe harbor and consumer disclosure rules.

Join WesPay for our Quarterly Member Update on Monday, June 1, 2020. We are pleased to welcome two excellent topics:

 

• Jeanette Fox from Nacha will discuss the new Contact Registry and walk through the registration process which will be required of every financial institution starting July 2020.
• Richard Watada of the Federal Reserve will provide an update on FedNow (the FedNow Community) and its Customer Assistance Program.

Take part in this informative update as a benefit of your membership with WesPay.

Does your payments business or financial institution offer international transfers to consumers?

 In this webinar, WesPay will guide you through the maze of time frames, disclosure requirements, liabilities and consumer rights. Join us and hear new information related to the CFPB’s recent amendments to the safe harbor and consumer disclosure rules.

Read more about CFPB on WesPay's COVID-19 Resource Center.

Most financial institutions have been working diligently to service clients and members through remote channels, and increasingly, in digital channels. As a result, many financial institutions are learning of gaps in their digital payment services or are proactively pursuing new digital payment services that lessen the need for in-person interaction. This WesPay facilitated discussion will focus on initiatives members are undertaking to enhance their payment services by expanding their digital capabilities. 

NOTE:  No recording will be available for the Payments Lounge

LIMITED SEATING: Seating is limited to the first 25 registrants. 

Payments professionals specializing in the ACH Network require a broad knowledge of all the various aspects of this complex payments system. This industry-level certificate includes 12 live webinars, a review session and a comprehensive exam. The ACH Network Certificate series provides a more thorough explanation of the entire ACH system and provides a strong foundation for any professional who wishes to develop a level of expertise in this area.

Economic Impact Payments to Begin the Week of April 13, 2020

 

Attend a Free WesPay Webinar to Aid Your Preparations

WesPay has learned that the U.S. Treasury is expected to begin sending Direct Deposit entries for “Economic Impact Payments” (i.e., stimulus payments approved in the CARES Act) to consumers as early as the end of this week for settlement next week. New information is unfolding by the hour, and the WesPay team is arranging a briefing to provide members with information needed to prepare for this high volume of incoming payments.

 

Please join us for a free WesPay Town Hall on Friday, April 10 at 1pm PT.

The volume of payments distributed for settlement next week is expected to be large; in fact, this first distribution early next week is expected to be the largest distribution of these funds. In addition, the entries are expected to be delivered to RDFIs days in advance of the settlement date. The WesPay team plans to share the information we have received and discuss considerations RDFIs should be evaluating in advance of receiving these entries. Immediate action may be required by your financial institution.

 

We are planning an interactive session using voice, video and chat and will allow ample time for Q&A. The Payments Hotline continues to be available at 800-977-0018 or info@wespay.org for specific questions.

 

The Nacha Rules require an RDFI to accept a consumer’s Written Statement of Unauthorized Debit (WSUD), and also require that the WSUD be signed or similarly authenticated.

A message from WesPay's President & CEO, William J. Schoch -

There is still time to register for the virtual Fraud Symposium on Tuesday March 17.

We will be holding end of day drawings for fabulous price!

***Must be present to win

Treasurer of the State of Washington, Duane A Davidson, discussing a proposed bill to create a State Chartered Public Bank