Latest Journal Entries

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15
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Changelog
Routing Number API

We've released a new feature that allows customers to verify routing numbers using a new API endpoint.

04
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08
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Payments Primers
Complying with NACHA's New WEB Debit Rule

On March 19, NACHA made effective a new rule which strengthens the requirements for originators of WEB debits. In an attempt to curtail fraud, the rule requires companies to validate new accounts. Though it won't be enforced for a year, it's important to know about the rule change so your company can remain compliant.

04
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05
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21
Changelog
Announcing Support for ACH Prenotes

Modern Treasury now supports sending ACH prenotes as a way to validate account and routing information.

03
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24
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Payments Primers
What is Double-Entry Accounting?

When maintaining your books, there are a number of accounting methods you can use to keep track of your company’s financial information. One of them is double-entry accounting. What is it, and when should it be used?

03
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19
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Payments Primers
What Happens When the Fed Goes Down?

The Federal Reserve (“The Fed”) promotes the stability of the financial system, including playing an important role in maintaining the integrity of the US payments system. What happens when the FedACH, FedWire, and National Settlement Service are offline?

03
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11
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21
Changelog
Add Sutton Bank Support

Modern Treasury has now added support for customers of Sutton Bank.

03
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02
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21
Changelog
Add ACH Reversals

Today we’re happy to share that we’ve released a new ACH Reversals feature in our Payments product. ACH Reversals lets you reverse an ACH payment you initiated with the click of a button or an API call.

02
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21
Behind The Scenes
Bad Software and Expensive Mistakes

A story about a $900 million mistake, bad software, and good people. This case goes to the heart of why we started Modern Treasury. 

02
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16
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Behind The Scenes
Reflecting on My Internship

These past five months, I’ve had the opportunity to intern at Modern Treasury and wanted to reflect on my experience here. 

02
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11
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Payments Primers
Why is Our Bank Asking About Compliance?

A regular source of frustration for startups who move money for customers is trying to understand the rules that banks impose on those clients they deem to be third party senders (TPS), or as banks call them, third party payment providers (TP3’s). A third party sender is a company that uses its own bank account to make or receive payments on behalf of its customers or users.