RDFI Returns: 2 Banking Days vs. 60 Calendar Days - Understanding the Difference

On-Demand Webinar:
StreamedApr 25, 2023Duration90 minutes
  • 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
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There’s a big difference between two banking days and 60 calendar days.

Do you know which applies to an RDFI return deadline under any given scenario? When is a Written Statement of Unauthorized Debit required? This webinar will explain everything you need to know about ACH return reason codes and timeframes.
 
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
  • Use the appropriate return reason code for timely ACH returns using the general and extended return timeframes
  • Define your institution’s responsibilities under the Nacha rules and Regulation E regarding ACH transactions
  • Explain the authorization requirements for ACH entries, including the retention timeframe
  • Distinguish between ACH returns requiring a Written Statement of Unauthorized Debit (WSUD) versus those that do not require any documentation
  • Understand the process for an RDFI to request proof of authorization from an ODFI

This course is eligible for 1.8 AAP/APRP credits.

WEBINAR DETAILS

ACH return reason codes generally fall into one of two timeframes: the general return timeframe (two banking days) or the extended return timeframe (60 calendar days). This webinar will examine these two very different timeframes. It will address the authorization requirements for ACH entries, when a Written Statement of Unauthorized Debit is necessary, and how an RDFI may request proof of authorization from an ODFI. 

WHO SHOULD ATTEND?

This informative session is designed for frontline staff, tellers, service representatives, and ACH operations staff.  

TAKE-AWAY TOOLKIT

  • 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.

TESTIMONIAL

"Very informative, well spoken, and knowledgeable speaker."
- Shelly, CSE Federal Credit Union

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