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Narmi Account Opening (AO) ACH Service
The information in this article is only relevant if your financial institution utilizes Authorize.net for ACH Account Opening funding. Narmi AO ACH Service was introduced in release 2024.4 for our Consumer Account Opening and Business Account Opening products. Please contact your Narmi Relationship Manager for more information regarding Narmi AO ACH Service.
There are four statements that you should be aware of in the Authorize.net platform. Not all will apply to every financial institution.
- eCheck.Net Settlement Statement
- Records all deposits and money movement for eCheck.Net transactions processed
- eCheck.Net Reserve Statement
- Displays the funds withheld from your settlement funds as reserves to cover returned items and chargebacks
- This is only relevant at “higher risk” institutions. Reserves can be on a rolling basis or paid in lump-sum
- Billing Statement
- Displays a summary of all fees associated with processing transactions through the payment gateway
- Billing Reserve Statement
- Displays the funds withheld from your settlement funds as reserves
- These items are applied against the balance displayed on the Billing Statement
- This is only relevant if the financial institution operates under a net billing structure vs. a gross billing structure
Statements can be viewed by migrating to Account --> Statements
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