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
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
Presented By
UMACHA
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