Understanding Bank Account Encryption

The National Automated Clearing House Association (NACHA) sets data security requirements for originators to protect Direct Deposit Bank Account Numbers used in the initiation of Automated Clearing House (ACH) entries by rendering them unreadable when stored electronically. To comply with these rules you must perform a small amount of setup. It is also important to understand how PeopleSoft encrypts, decrypts, and masks bank account numbers.

Part of the NACHA requirements indicate that you must have a secure transmission when sending or receiving bank account information. PeopleSoft is not responsible for this. You must work with your financial institution to guarantee secure transmissions.

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This feature requires PeopleTools 8.57.15 or above.