WSUD vs. Stop Payment: Definitions, Differences, Compliance

Compliance Frontline & New Accounts Operations

On-Demand Webinar:

StreamedAug 17, 2022Duration60 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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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 member 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.

WEBINAR DETAILS

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.

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.

TESTIMONIALS

"The handouts for notes were very much appreciated. Ms. Ellis was very clear with her delivery of information and was very easy to understand. I felt very satisfied the information learned today."

-Nunny, Universal City Studios Credit Union

"Great information. Very informative."

-Cassandra, Healthnet Federal Credit Union

Presented By

Kimberly Ellis

UMACHA