When Set Up Direct Deposit (ACH) Payment Account, you may encounter this error when trying to enter the Name on bank account. The name you have entered is valid, contrary to the error that you have received. The true error is within the character count.
The Name on bank account 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 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.
Note: "Name on bank account" is not the bank name, it is your / your organization's bank account name. It starts with letters and can contain numbers, but no special characters (commas, dashes, etc).