October 7, 2020

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Prime Rails

1.1 ACH volume limits per Organization

ACH volume limits reduce fraud and NSFs by limiting the dollar amount of ACH transfers per Organization. Reg E requires a 21 day notice to end-users before limits are “changed” (does not apply to first time establishment of limits) unless the change is made for the security of the account.

The feature enables the Funds Transfer API to:

  • Retrieve the historical activity for a given funds transfer method’s fingerprint for a given organization

  • Add the atts[:amount] to each of the periodic sums

  • Check to see if any of those sums exceed the limits defined in the account policies

If any limits are exceeded, response 422 is returned with an appropriate error code. If the funds transfer method is included in the explicit allowlist, checks will not be performed.

New error codes in Funds Transfer API:

  • ACH24HourLimitExceeded

  • ACH7DayLimitExceeded

  • ACH30DayLimitExceeded

New account policies include:

  • max_ach_contribution_amount_per_fingerprint_last_24_hours

  • max_ach_contribution_amount_per_fingerprint_last_7_days

  • max_ach_contribution_amount_per_fingerprint_last_30_days

The amounts are calculated per fingerprint per organization.

The POST /v2/contributions method will now return one of the three new error codes indicating overages.

1.2 Alphanumeric postal codes for wire details

This feature enables Cloud Prime Trust users to include alphanumeric postal codes for wire details beneficiary addresses when specifying a non-US country. Addresses for US beneficiaries still validate only numeric digits.

1.3 Check name for ACH using Plaid identity

Introduces a switch to enable name checking using Plaid identify with Funds Transfers API.

If turned on for an Organization, when adding a Plaid ACH funds transfer method, the check retrieves the account owner name using Plaid Identity and validates that the first name and last name match the name of the Contact.