When Set Up Direct Deposit (ACH) Payment Account, you may encounter this error when trying to enter the Bank name. The name you have entered is valid, contrary to the error that you have received. The true error is within the character count.
The Bank name field has a minimum character requirement of 3, the maximum character requirement varies depending on different currency of the ACH payment account. If you are receiving the error, this is because the Bank name entered is either too long or not long enough. To make the error go away, you can either shorten/lengthen the name that is currently there, or provide a different name that fits within the character limits. For example: