Wed, Oct 9 2024 8:00 AM PDT — Thu, Oct 10 2024 2:00 PM PDT
ABOUTABOUT
This virtual 2-day seminar/workshop will identify the ins and outs of the ACH network, beginning with “How the ACH Network works”, the participants, their roles and responsibilities, different types of payments, including settlement and funds availability.
Exception processes will be covered, from prenotes to recurring transactions, from general returns to extended returns, stop payments, notification of change (NOC), reinitiation, and reversals. Details from both the ODFI (Originating Depository Financial Institution) and the RDFI (Receiving Depository Financial Institution) – and what each participant is required to do according to the Nacha Operating Rules.
Discover the basics of the ACH Network with an overview of ACH, history, legal framework, how it works, participants roles and responsibilities
Same Day ACH functionality - PLUS settlement and funds availability in the ACH network
Common terminology and products/applications (SEC Codes) Standard Entry Class Codes
Identify details on exception processes within ACH (Prenotes, Stop Payments and NOCs)
Define the ACH Return process from general returns to extended returns (unauthorized)
Illustrate entire ACH return process, from the initial return, to dishonored return and on to the contested dishonored return (including timeframes and warranties)
Recognize Reg E error resolution vs. ACH and the consumer/FI responsibilities
Outline the process for Reinitiation of Entries and Reversals
Overview of Federal Government ACH payments and the Reclamation process
Recap of the most recent Nacha Operating Rules changes