ACH Specialist Series:
RDFI Returns: 2 Day vs. 60 Calendar Days – Understanding the Difference
Wednesday, September 20, 2017
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
This session will focus on the ACH Network and how general returns should be handled versus extended returns. Do your frontline and operations departments know what documentation is needed for a stop payment versus an extended return? Do they know how to handle returns specific to the Standard Entry Class Code and what impact they have on consumer or non-consumer accounts? Attend this session to ensure returns are handled correctly.
This course is eligible for 1.8 AAP credits.
Continuing Education: Attendance verification for CE credits upon request
- Deadlines associated with returns in ACH Network and consequences for failing to meet them
- Difference between a stop payment and a Written Statement of Unauthorized Debit (WSUD)
- What the NACHA Operating Rules do and do not require for documentation of returns in various scenarios
- Real-life case studies from financial institutions
- Ideas for training and procedures to stay in compliance with the NACHA Rules
- TAKE-AWAY TOOLKIT
- Sample stop payment form with instructions
- Sample Written Statement of Unauthorized Debit form with instructions
- Double-sided returns quick reference card, with reasons and timeframes
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
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WHO SHOULD ATTEND?
This informative session will benefit employees who work in ACH operations and the frontline staff that answer accountholder questions about whether an ACH entry can be returned.
PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.