Returns and NOCs of the RDFI Process Training
About This Event
Description
An RDFI must accept all types of entries with the right of return. What does that mean to you?As an RDFI there are specific responsibilities, obligations and warranties when you initiate (or transmit) Return Entries. Notifications of Change are optional for the RDFI - But, if they do them - what are the warranties that go with the COR Entries?Also covered is the reversal process which is now referred to as the Dishonored Returns and Contested Dishonored Returns Related to an Unintended Credit to a Receiver.
Objectives of the Presentation
Responsibilities for the RDFI accepting ACH entries and their right to return
Obligations of the ODFI/Originator when initiating Prenote Entries
Warranties of the RDFI when sending NOCs
New rules relating to reinitiation of entries by the ODFI
RDFI warranties when transmitting extended returns
New rules process relative to Reversal Entries
Why Should you Attend
This 2-part series Boot Camp will provide details on all the Responsibilities, Obligations and Warranties of the RDFI and ODFI for ACH special processes such as: Prenotes, Reinitiation, Reversals, Returns, NOCs. Each session will cover a different set of processes relating to a specific participant (ODFI or RDFI) - be sure to attend both the sessions to get the full effect of how each participant in the network have different responsibilities, obligations and warranties and how to be sure you're in compliance with the NACHA Operating Rules.
Areas Covered
Included in this session will be the following:
Timeframes for doing returns
General returns and stop payments
Warranty details of the RDFI for extended return entries
Details on the new Dishonored Return Reason Code R62 - Return of Erroneous or Reversing Debit and the new Contested Dishonored Return Reason Code R77 - Non-Acceptance of R62 Dishonored Return can be used
Notification of change warranties
Who can Benefit
ACH operations staff, treasury professionals, AAP's for AAP CE (Continuing Education) Credits, ACH auditors (internal and external), CFO's to pass on to their staff, Bank Management, companies who process electronic payments for themselves and for other companies (i.e. payroll processors).
For Registration
http://onlinecompliancepanel.com/webinar/ACH-COMPLIANCE-501279/MARCH-2016-SB-GPLUS
Note: Use Promo code SMMSE and get 10% off on registration (Valid till March 31st)