Systems and methods for providing ACH transaction notification and facilitating ACH transaction disputes

A system of protecting account holders against fraudulent Automated Clearing House (ACH) Network transactions originated and transmitted to financial institutions through the ACH Network, the system comprising:

• a client server in communication with remote client devices and the ACH Network;
• memory to store a preset notification criteria for an account holder relating to a transaction characteristic of a financial transaction, wherein the transaction characteristic is identifiable in a transaction data associated with an ACH transaction file generated by an ACH operator;
• a data processing device configured to analyzing the ACH transaction file received by the client server through the ACH Network, the data processing device identifying the transaction characteristic in the data and the account holder associated with the ACH transaction file and comparing the transaction data with the preset notification criteria stored in memory;
• and
• a data communication device operatively associated with the client server, the data communication device being configured to transmit a notification to a remote client device associated with the account holder responsive to the transaction data satisfying the preset notification criteria, wherein the electronic notification is transmitted independently of the ACH Network and the notification comprises a returnable response generated by the data processing device enabling the selection of one or both of (i) an approval of the financial transaction and (ii) an approval of subsequent financial transactions including the transaction characteristic;
• wherein responsive to the data communication device receiving the returnable response, the data processing device facilitating one or both of (i) recording the approval of the underlying financial transaction and (ii) changing the preset notification criterion stored in memory, whereby the subsequent financial transactions including the transaction characteristic will not satisfy the preset notification criterion for the account holder.

A computerized method of protecting a set of account holders against fraudulent proposed Automated Clearing House (ACH) Network transactions involving financial accounts at a Receiving Depository Financial Institution (RDFI), the method being facilitated by a server including a processing device in communication with memory including executable instructions, the server further including a data communication device in communication with remote devices and the ACH Network, the method comprising the steps of:

• receiving through the data communication device, an ACH transaction file transmitted within the ACH Network, the data communication device being in communication with a processor, client communication device and memory;
• the processor facilitating the identifying of a transaction characteristic of an underlying financial transaction involving a financial account maintained by the RDFI, wherein the transaction characteristic is identifiable by processing the transaction data contained in the ACH transaction file;
• responsive to the determination that the financial account is associated with one account holder of the set of account holders from which a preset notification criterion has been stored in memory, the processor further facilitating the comparing of the transaction characteristic with the preset notification criterion stored in the memory in association with the financial account, the preset notification criterion setting forth (i) a characteristic of any financial transaction that satisfies the preset notification criterion and (ii) a remote client device;
• and
• responsive to the preset notification criterion being satisfied by the transaction characteristic, transmitting a communication to the remote client device stored in memory, wherein responsive to the data communication device receiving a response to the communication, the processing device facilitating at least one of:
• (i) preventing the underlying financial transaction;
• (ii) recording an approval of the underlying financial transaction;
• and (iii) recording an approval of the underlying financial transaction and changing the preset notification criterion stored in memory, whereby subsequent financial transactions including the transaction characteristic will not satisfy the preset notification criterion.