WSUD vs. Stop Payment: Definitions, Differences, Compliance
StreamedAug 18, 2022Duration60 minutes
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- Unlimited & shareable access starting
two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Is your staff prepared to deal with the challenges of ACH error resolution?
Does that include stop payments and written statements of unauthorized debit (WSUD)? When you understand the definitions and differences, you can provide better customer service and avoid losses for your financial institution.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the difference between stop payments for consumers versus non-consumers and what documentation is required for each situation
- Use the appropriate return reason code for ACH returns utilizing the extended return timeframe
- Define your institution’s ACH responsibilities under the Nacha Rules and Regulation E
- Explain why an ACH transaction may not be able to be returned due to an accountholder’s dissatisfaction with the goods or services purchased
- Distinguish between stop payments, unauthorized ACH transactions, and authorization-revoked ACH transactions
This course is eligible for 1.8 AAP credits.
Among the most common audit findings are errors made with stop payments and written statements of unauthorized debit (WSUD). Join us to learn the difference between the two and the documentation required for each. This webinar will describe the document retention warranties that RDFIs carry when processing stop payments or extended returns. It will go into great detail regarding the differences between consumer and non-consumer requests and will include review activities to ensure your staff is ready to handle each accountholder’s stop payment or extended return situation.
WHO SHOULD ATTEND?
This informative session is designed for frontline staff, tellers, service representatives, and ACH operations staff.
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
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