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NCUIC Welcomes Members Bank of America and PaymentsNation
NCUIC – the National Council for Uniform Interest Compensation – welcomes Charlotte-based Bank of America and Phoenix-based PaymentsNation as returning members of NCUIC.
Bank of America and PaymentsNation join the list of key financial institutions and associations that turn to NCUIC rules for resolving compensation issues arising in check, securities and wire transfer transactions. NCUIC writes and administers the rules, helping members resolve disputes and problems.
NCUIC was acquired by NACHA – The Electronic Payments Association in 2002 and operates as an independent council under NACHA’s extensive council program. Membership is open to financial institutions and to associations whose members are financial institutions.
NCUIC is working to:
- Address specific issues raised by the NCUIC rules.
- Determine the relationship with IFS (International Financial Settlement) rules.
- Explore issues with same day settlement (SDS).
- Hold teleseminars to review the rules for members and prospective members.
- Increase NCUIC membership
For further information, contact Nancy Grant, Senior Director, NCUIC, at 703-561-3911.
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