ACH FUNDAMENTALS: UNDER THE MICROSCOPE. Heather Spencer, AAP Implementation Coordinator, MY CU Services, LLC. Disclaimer
|
|
- Mariah Bailey
- 6 years ago
- Views:
Transcription
1 ACH FUNDAMENTALS: UNDER THE MICROSCOPE Heather Spencer, AAP Implementation Coordinator, MY CU Services, LLC Disclaimer This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only. NACHA owns the copyright for the NACHA Operating Rules & Guidelines. 1
2 Agenda ACH Network History Legal Requirements The ACH Network ACH Participants and their Roles ACH Transaction Flow Settlement of ACH Transactions Terminology and Acronyms Types of Returns ACH Network History Early 1970s SCOPE Special Committee On Paperless Entries First Automated Clearing House 1974 NACHA formed National Automated Clearing House Association Local ACHs Electronically Linked 2
3 ACH Network History 1993 All Electronic ACH 1993 Present SEC Codes continue to be developed 2016 Same Day ACH Legal Requirements Regulation CC Funds Availability Return time frames Re-presented Check Entries (RCK) Regulation D Reserve Requirements Transaction vs. non-transaction accounts Regulation E Basic rights and obligations of consumers and financial institutions for Electronic Funds transfer 3
4 Legal Requirements Uniform Commercial Code Article 4A Body of laws which cover wholesale EFT payments, primarily wire transfer but also commercial ACH items Title 31 Code of Federal Regulations Part 210 (31 C.F.R. Part 210) Governs all entries originated or received by an agency through the Automated Clearing House (ACH) network including reclamation of benefit payments Legal Requirements OFAC Office of Foreign Asset Control A division of the U.S. Department of the Treasury Administers and enforces economic and trade sanctions against countries, individuals, companies and organizations considered to be a threat to U.S. national security and U.S. foreign policy Sanctions are based on United Nations or other international mandates Requires FIs to screen for Specially Designated Nationals and block any of their accounts 4
5 The ACH Network Automated Clearing House Nationwide batch oriented electronic funds transfer system Stores and forwards transactions Debit or Credit Entry Savings or Checking Account General Ledger Account Credit to a Loan Account Single or recurring entry Same or Next Day payment system ACH Participants and Their Roles ACH Participants Originator Originating Depository Financial Institution (ODFI) ACH Operator (FED or EPN) Receiving Depository Financial Institution (RDFI) Receiver 5
6 ACH Participants and Their Roles Originator Party which initiates the ACH transaction Can be a company, a government agency or a person Must have Authorization from the Receiver Examples: Electric company initiating drafts Bill Pay Direct Deposit ACH Participants and Their Roles ODFI The Financial Institution which originates the ACH transactions after receiving payment instructions from an originator There will be an agreement between the ODFI and the Originator Except customer initiated entries ODFI must also act as an RDFI 6
7 ACH Participants and Their Roles ODFI An ODFI is responsible for all entries originated through the ODFI, whether by an Originator or Third- Party Sender, including entries sent through Direct Access An ODFI is responsible for its Originators and Third- Party Senders compliance with these rules ACH Participants and Their Roles ACH Operator(s) There are 2 ACH Operators Federal Reserve Electronic Payments Network Central clearing facility for Financial Institutions Establish processing and exchange schedules for the ACH Network Deliver entries (according to predetermined processing schedules) to the receiving point(s) 7
8 RDFI ACH Participants and Their Roles The Financial Institution which receives an ACH transaction for posting to the Receiver s account Does not have to be an ODFI Must accept all types of ACH entries, including government entries Agrees to post items to depositor s account by settlement date May solely post based on account number only ACH Participants and Their Roles Receiver Party which receives the ACH transaction Has authorized the Originator to initiate the ACH entry May be a company, government agency or an individual 8
9 ACH Transaction Flow Employer Originator ODFI ACH Operator Employee Receiver RDFI ACH Transaction Flow Third-Party Service Provider An Organization that performs any functions on behalf of the Originator, the Third-Party Sender, the ODFI, or the RDFI (not including the Originator, ODFI, or RDFI acting in such capacity for such Entries) related to the processing of Entries, including the creation of the files or acting as a Sending Point or Receiving Point on behalf of a Participating DFI. 9
10 ACH Transaction Flow Third Party Service Provider Credit Union ODFI Originator MY CU Services, LLC Third- Party Service Provider Member Receiver RDFI ACH Operator Third-Party Sender ACH Transaction Flow Service Provider that acts as an intermediary in Transmitting Entries between an Originator and an ODFI, including through Direct Access, and acts on behalf of an Originator or another Third-Party Sender Never the Originator for Entries it Transmits on behalf of another Organization. Third-Party Sender of Entries may also be an Originator of other Entries 10
11 ACH Transaction Flow Third Party Sender Employer Originator ODFI Payroll Processor Third-Party Sender Employee Receiver RDFI ACH Operator ACH Transaction Flow Third Party Senders Third Party Senders are a type of Third Party Service Providers A Third Party Sender is considered to be a Third Party Service Provider where there is no contractual agreement between the ODFI and the Originator. Third Party Service Providers Do NOT always act as a Third Party Sender 11
12 Settlement of ACH Transactions What Makes Up an ACH Transaction? Company Name Company Entry Description Effective Date Settlement Date Routing Number, Account Number and Name Standard Entry Class Code (SEC) Transaction Type Code (Debit or Credit) Trace Number (which contains the ODFI RT) For Research and Returns Settlement of ACH Transactions Effective Entry Date is the date (YYMMDD) inserted by the Originator or ODFI of when they would like the Entry to settle Settlement Date Inserted by the ACH Operator Date on which the DFI or its correspondent is scheduled to be debited or credited by the Federal Reserve Settlement Date is the date assigned by the ACH Operator based upon the effective entry date 12
13 Settlement of ACH Transactions RDFI should rely on Settlement Date for posting These dates are not always the same Note: Any Originated ACH item that contains current business day as the effective date or an invalid effective date and/or stale date will be processed as a Same Day ACH Settlement of ACH Transactions Settlement When the Federal Reserve debits or credits money for ACH transactions affecting the FED Accts of the respective DFIs Funds Availability When the RDFI makes the money available in the Receivers account for withdrawal 13
14 Settlement of ACH Transactions Credit Entries that are made available to an RDFI by its ACH Operator by 5:00 pm on the banking day prior to the Settlement Date must be made available by opening of business (no later than 9:00am) on the day of Settlement Debits must not be posted prior to the Settlement Date Terminology and Acronyms SEC (Standard Entry Class) Code Identifies the format of the Entry Detail Record Varies based on SEC Code Consumer vs. Corporate Certain rules apply when processing the type of payment (based on SEC Code) Trans Codes (Debit or Credit) 14
15 Terminology and Acronyms SEC Codes SEC codes identify the type of ACH entry and determine the rules governing the entry Identify the SEC code for the item. The appropriate return reason code for the entry will be contingent upon the SEC code used Codes are located within the Company/Batch Header Record of an ACH file The exception item report should also indicate the SEC code for each item Terminology and Acronyms Corporate Credit or Debit Entry (CCD) Entry initiated by an Organization to transfer funds to or from an account of that Organization or another Organization 15
16 Terminology and Acronyms Prearranged Payment and Deposit Entry (PPD) Direct Deposit and Direct Payment Most common ACH transaction Typically recurring payments Terminology and Acronyms Internet Initiated/Mobile Entry or P2P (WEB) Consumer debits authorized via the Internet or mobile device; or person-to-person (P2P) credit regardless of initiation method. Single or Recurring debit Entries Only for use when authorization was given via the internet Pre-existing authorizations are not WEB 16
17 Terminology and Acronyms Telephone-Initiated Entry (TEL) A debit Entry initiated by an Originator pursuant to an oral authorization obtained over the telephone to transfer funds from a Consumer Account of the Receiver Single or Recurring Debit Only Terminology and Acronyms Transaction Codes Two-digit numeric codes that define various types of debits and credit entries Savings/Shares begins with 3 Codes 32 CRs, 37 DBs, 31 NOC/Ret CRs, 36 NOC/Ret DBs Checking/DDA/Share draft begins with 2 Codes 22 CRs, 27 DBs, 21, NOC/Ret CRs, 26 NOC/Ret DBs 17
18 Terminology and Acronyms Transaction Codes Loans begins with 5 Code 52 CR s, 55 DB but used only for REVERSALS General Ledger begins with 4 Codes 42 CR s, 47 DBs, 41, NOC/Ret CRs, 46 NOC/Ret DBs Terminology and Acronyms NOCs A Notification of Change (NOC) is a zero-dollar entry sent by an RDFI to the ODFI which in turn notifies the Originator of the item that an entry was posted to the Receiver s account, the entry contains invalid information that must be changed going forward COR is the actual SEC code used when sending a NOC. It is recommended that an NOC not be sent to change an account number 18
19 Reclamations Terminology and Acronyms The Federal government s right to reclaim funds with respect to Federal benefit payments Federal agencies must initiate a reclamation within 120 calendar days after the date they receive notification of death The RDFI is considered to have knowledge of death if they have learned of the death by following reasonable business practices Terminology and Acronyms Return Entries A credit or debit Entry initiated by an RDFI or ACH Operator, that returns a previously originated credit or debit Entry to the ODFI within the time frames established by the Rules 19
20 Types of Returns Consumer Initiated Returns Administrative Return Codes Miscellaneous Exception Situations Benefit Payment Return Codes International Only Return Codes ACH Operator Return Codes Rejected ENR Codes Dishonored Returns Contested Dishonored Returns Types of Returns Consumer Initiated Returns Not Authorized Includes incorrect date and/or incorrect amount Authorization Revoked Must be made available to the ODFI at the opening of business on the 60 th calendar day following the Settlement Date Requires a Written Statement of Unauthorized Debit 20
21 Types of Returns 60 day Return Time Frame *Codes Requiring a Written Statement of Unauthorized Debit *R05 *R07 *R10 R33 *R37 R38 *R51 R52 *R53 Types of Returns Administrative Returns Items which the RDFI cannot post. Must be made available to the ODFI at the opening of business on the second banking day following the Settlement Date 2 day Return Time Frame R01 R12 R02 R16 R03 R20 R04 R24 R09 21
22 Exception Items RDFI Responsibilities Types of Returns Three Options for Processing Manually post (Accept it) Manually post and initiate a NOC (Correct it) Return (Reject it) Must be posted on a timely basis or returned in their proper time frames Resources NACHA Operating Rules Legal framework for the ACH Network Published annually Implementation New Rules implemented quarterly March, June, Sept, Dec 22
23 Resources Green Book - Book/greenbook_home.htm Your local Regional Payment Association Any Questions? 23
24 Contact Information Heather Spencer, AAP ext
Glossary of ACH Terms
ABA NUMBER See Routing Number/Transit ACH - The Automated Clearing House network ACCESS DEVICE - A card, code, or other means of access to a consumer s account that may be used to initiate electronic funds
More informationKey Components of an RDFI. Mini Deck
Key Components of an RDFI Mini Deck Disclosure 2017 PaymentsFirst. All rights reserved. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes
More information5/2/2017. Mini Deck. Disclosure
Key Components of an RDFI Mini Deck Disclosure 2017 PaymentsFirst. All rights reserved. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes
More informationACH Credit a transaction through the ACH network originated to pay a receiver (deposit funds into an account).
ACH Glossary For additional information, refer to the current National Automated Clearing House Association (NACHA) Rules or contact us at 205-469-4000 or 888-902-4227. ABA Number also known as Routing/Transit
More informationPresented by: Jen Wasmund, AAP, NCP Vice President of Education and Compliance. Jordan Morell, AAP, NCP Associate Director of Education Services
Presented by: Jen Wasmund, AAP, NCP Vice President of Education and Compliance Jordan Morell, AAP, NCP Associate Director of Education Services Regional Payments Associations, through their Direct Membership
More informationThis is designed to provide those who are not familiar with the ACH Network with a basic understanding of the fundamentals of the ACH Network.
This is designed to provide those who are not familiar with the ACH Network with a basic understanding of the fundamentals of the ACH Network. The ACH Network is a batch processing, store and forward system.
More informationORIGINATING ACH ENTRIES REFERENCE
ORIGINATING ACH ENTRIES REFERENCE The following information has been provided so that customers can be familiar with their requirements under the NACHA Operating Rules (The Rules). This quick reference
More informationGet on First Base with Same-Day ACH Risks
Get on First Base with Same-Day ACH Risks EASTPAY 2016 Information Interchange Mary Gilmeister, AAP, NCP President WACHA Fred Laing, II, AAP, CCM, NCP President UMACHA 1 Disclaimer NACHA owns the copyright
More informationOBLIGATIONS OF ORIGINATORS
OBLIGATIONS OF ORIGINATORS Revised September 2017 Legal Framework for ACH ACH Operating Rules- NACHA A series of contract law that is made binding by agreements. Regulation E Carries out the purpose of
More informationCopyright 2017 Lakeland Bank. All rights reserved. This material is proprietary to and published by Lakeland Bank for the sole benefit of its
ACH Originator Guide Copyright 2017 Lakeland Bank. All rights reserved. This material is proprietary to and published by Lakeland Bank for the sole benefit of its clients. Reproduction, distribution, disclosure
More informationCORPORATE USER ACH QUICK REFERENCE CARD
What is the ACH Network? The Automated Clearing House (ACH) Network is the a network created for the electronic movement of money and other related data. This is a safe, secure, and reliable network for
More informationACH Originator Resources
ACH Originator Resources Revised 06-2017 Table of Contents Introduction...3 ACH Originator Responsibilities...4 ACH Glossary...5 Notification of Change (NOC) Codes... Error! Bookmark not defined. ACH Return
More informationDecember 3, ACH Rulebook Subscribers. Cari Conahan, AAP Senior Director, Network Rules
December 3, 2010 TO: FROM: ACH Rulebook Subscribers Cari Conahan, AAP Senior Director, Network Rules RE: 2010 NACHA Operating Rules ᅳ Supplement #2-2010 Application Enhancements FOR YOUR INFORMATION: On
More informationAuthorizations & Agreements. Presented by Laura Nelson, AAP NCP Education Specialist/Auditor
Authorizations & Agreements Presented by Laura Nelson, AAP NCP Education Specialist/Auditor Audio Handouts Questions Presented by: PAR/WACHA - The Premier Payments Resource Laura Nelson, AAP, NCP Education
More informationSame Day ACH: What Does It Mean to Your Financial Institution?
Same Day ACH: What Does It Mean to Your Financial Institution? Presented by WACHA Pre- Conference PAR/WACHA-The Premier Payments Resource Panelists: Laura Parsons FIS Wendy Stanford Bankers Bank Stacy
More informationACH Industry Update, Audit Weaknesses and Emerging Payment Trends
ACH Industry Update, Audit Weaknesses and Emerging Payment Trends Presented by Adrian Brown, AAP Director of Education The Payments Authority is the association for payments people. ACH CARD CHECK WIRE
More information2016 Annual ACH Audit CU*Answers
2016 Annual ACH Audit CU*Answers September 6, 2016 Marsha Sapino, AAP, BSACS AuditLink Assistant Manager 6000 28 th St SE Grand Rapids, MI 800-327-3478 ext.380 Marsha.sapino@cuanswers.com Jim Vilker, NCCO
More informationPerformed by: The Payments Authority, under the oversight of AuditLink. October 22, 2013
Performed by: The Payments Authority, under the oversight of AuditLink October 22, 2013 October 21, 2013 On September 9, 2013 the Payments Authority conducted the CU*Answers annual ACH Audit. The overall
More informationNavigating the ACH Rules
Navigating the 2018 ACH Rules This material is not intended to provide any warranties or legal advice, and is intended for education purposes only. NACHA owns the copyright for the NACHA Operating Rules
More informationSame Day ACH: Preparing for Debits. Presented by Laura Nelson, AAP NCP Education Specialist/Auditor
Same Day ACH: Preparing for Debits Presented by Laura Nelson, AAP NCP Education Specialist/Auditor Audio Handouts Questions Presented by: PAR/WACHA-The Premier Payments Resource Laura Nelson, AAP, NCP
More informationCommercial Banking Online Service Agreement
Effective November 1, 2017 Commercial Banking Online Service Agreement Download PDF Welcome to Commercial Banking Online at Washington Federal. This Commercial Banking Online Service Agreement ( Agreement
More informationNACHA Operating Rules: What Do They Mean to You?
NACHA Operating Rules: What Do They Mean to You? 2015 NACHA The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA.
More informationReturns File Format. Revised 6/10/2010 Page 1 of 8
Returns File Format Revised 6/10/2010 Page 1 of 8 Col Name Data Type Length Description 1 Collection Level Alpha/Numeric 50 Collection service such as guarantee, charge back to merchant, NOC s, etc. 2
More informationNACHA Rulemaking Process Update
NACHA Rulemaking Process Update NAFCU Webcast February 2, 2016 Amy Morris Senior Director, ACH Network Rules - NACHA 2 Agenda Standing Rules Work Group Activities Compliance and Operations Minor Rules
More information2015 NACHA COMPLIANCE SUMMARY GUIDE
2015 NACHA COMPLIANCE SUMMARY GUIDE Note: This compliance summary guide is provided by Jack Henry & Associates solely as a convenience to its ProfitStars Enterprise Payment Solutions customers and is not
More informationACH Management Policy
ACH Management Policy Original Issue Date: December 16, 2003 Last Revision Date: February 27, 2018 Last Review Date: February 27, 2018 Next Review Date: February 2019 Page 1 of 5 ACH Management Policy
More informationACH Origination Agreement (Company) has requested that Easthampton Savings Bank (bankesb) permit it to initiate Entries to Accounts maintained at the
ACH Origination Agreement (Company) has requested that Easthampton Savings Bank (bankesb) permit it to initiate Entries to Accounts maintained at the bank and other Financial Institutions by means of the
More informationUNDERSTANDING ACH First Tennessee Bank National Association. Member FDIC.
UNDERSTANDING ACH 2015 First Tennessee Bank National Association. Member FDIC. www.firsttennessee.com OVERVIEW The National Automated Clearing House Association (NACHA) regulates the use of the ACH system.
More information(For sweep accounts.) Total dividends earned as of the last day of the statement period. (For line of credit.) Amount advanced today.
Contents: Glossary A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A Top Account Reconciliation Plan (ARP) Accrued Dividends Month to Date ACH Addenda Advance Today Automated Clearing House (ACH) ARP
More informationSame-Day ACH A New Rule; A New World. August 21, 2015 Puerto Rico Same Day ACH Symposium
Same-Day ACH A New Rule; A New World August 21, 2015 Puerto Rico Same Day ACH Symposium DISCLAIMER The information contained herein has been prepared for general informational purposes only and is not
More informationSame Day ACH and PEP+ Opportunities. August 21, 2015
Same Day ACH and PEP+ Opportunities August 21, 2015 Agenda Review of the NACHA Rule Discussion of considerations and impacts What we are looking at for PEP+ Q&A Hali Jewell Product Manager, Payments Management
More informationAutomated Clearing House
Automated Clearing House THE SERVICE Customer wishes to initiate credit and/or debit Entries as an Originator through Bank to Accounts maintained at Bank and in other depository financial institutions
More informationUMACHA 2014; All rights reserved 2
Mitch Kenady, AAP Compliance Services Specialist Dahlia Penland, AAP Compliance Services Specialist Regional Payments Associations, through their Direct Membership in NACHA, are specially recognized and
More informationTREASURY MANAGEMENT MASTER AGREEMENT TERMS AND CONDITIONS
TREASURY MANAGEMENT MASTER AGREEMENT TERMS AND CONDITIONS PLEASE NOTE THAT THESE TERMS AND CONDITIONS ARE A PART OF THE TREASURY MANAGEMENT MASTER AGREEMENT WHICH YOU HAVE READ AND SIGNED. ALL TERMS AND
More informationOld Point ACH Services Annual Training 2014
Old Point ACH Services Annual Training 2014 ACH Payments ACH Recipts ACH Collections ACH Payroll Introduction to ACH Services How does an ACH payment flow through the Network? Originator Originating Depository
More informationPayment System Rules and Regulations. What will you learn? After this course, you will be able to:
Payment System Rules and Regulations Regional Payments Associations, through their Direct Membership in NACHA, are specially recognized and licensed providers of ACH education, publications and support.
More informationSame Day ACH: Moving Payments Faster
Same Day ACH: Moving Payments Faster 2015 NACHA The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. This material
More informationARE YOU READY FOR SAME DAY ACH??
ARE YOU READY FOR SAME DAY ACH?? The National Automated Clearing House Association (NACHA) recently adopted new rules that govern Same Day ACH processing. The new NACHA operating rules require mandatory
More informationSession 8: ACH. New York Bankers Association-Community Bank Auditors Group Internal Audit Training-June 6-8, 2016
Session 8: ACH New York Bankers Association-Community Bank Auditors Group 2016 Internal Audit Training-June 6-8, 2016 MEMBER OF ALLINIAL GLOBAL, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2016 Wolf &
More informationACH Audit and Risk Assessment: Choose Your Own Adventure
THE PAYMENTS INSTITUTE July 17-20, 12-15, 2016 2015 Emory Conference Center Hotel, Emory University, Atlanta, Georgia ACH Audit and Risk Assessment: Choose Your Own Adventure Mary Gilmeister AAP, NCP President
More informationDirectory of ACH Return Codes
Directory of ACH Return Codes The following ACH Return Codes can be associated with ACH payment processing. This is not a complete list of ACH Return Codes those related only to government payments, ATMs,
More informationCASH MANAGEMENT SCHEDULE. AUTOMATED CLEARING HOUSE SERVICES for Originators & Third-Party Senders
CASH MANAGEMENT SCHEDULE AUTOMATED CLEARING HOUSE SERVICES for Originators & Third-Party Senders This Schedule is entered into by and between Santander Bank, N.A. ( Bank ) and Customer identified in the
More informationACH Primer for Healthcare. A Guide to Understanding EFT Payments Processing
ACH Primer for Healthcare A Guide to Understanding EFT Payments Processing ACH Primer for Healthcare A Guide to Understanding EFT Payments Processing 2011 NACHA The Electronic Payments Association All
More informationKey Information in Electronic Report Delivery (ERD) Reports - NOC
Key Information in Electronic Report Delivery (ERD) Reports - NOC Participant Account Number ERD Report Filename - RTA2014231000008.TXT Batch # - 2014231000008 Printed on Sep 08, 2014 at 12:18 PM Transaction
More informationManaging Third Party Risk in the ACH Network
Managing Third Party Risk in the ACH Network Tony DaSilva, AAP, CISA Senior Examiner Federal Reserve Bank of Atlanta Paul A. Carrubba Partner Adams and Reese LLP Disclaimer THE VIEWS AND OPINIONS EXPRESSED
More informationUCC 4A and the ACH Network. Presented by Wanda Downs, AAP Director of Payments Education
UCC 4A and the ACH Network Presented by Wanda Downs, AAP Director of Payments Education 2018 Audio Handouts Questions UCC 4A AND THE ACH NETWORK Wanda Downs, AAP Director of Payments Education Disclaimer
More informationTreasury Management Services Product Terms and Conditions Booklet
Treasury Management Services Product Booklet Thank you for choosing M&T Bank for your treasury management service needs. We appreciate the opportunity to serve you. If you have any questions about this
More informationRepresentment Terms & Conditions
5500 Brooktree Road, Suite 104 Wexford, PA 15090 888-436-5101 www.profituity.com Representment Terms & Conditions Please read the following Terms and Conditions carefully. Company should note that the
More informationNEACH Payments Management Conference ACH Credit Risk: Credits, Debits, Same Day
ACH Credit Risk: The Credits, The Debits and The Same Day ACH Effect Jennifer Wasmund, AAP, NCP, Vice President of Education and Compliance, UMACHA www.neach.org 2016 NEACH. All rights reserved. Jen Wasmund,
More informationACH Risk: Is It a Myth or Reality. Mary Gilmeister, AAP, NCP President WACHA Fred Laing, II, AAP, CCM, NCP President UMACHA
ACH Risk: Is It a Myth or Reality Mary Gilmeister, AAP, NCP President WACHA Fred Laing, II, AAP, CCM, NCP President UMACHA Disclaimer WACHA and UMACHA, through their Direct Membership in NACHA, are specially
More informationBangladesh Electronic Funds Transfer Network (BEFTN) OPERATING RULES
Bangladesh Electronic Funds Transfer Network (BEFTN) OPERATING RULES Payment Systems Division Department of Currency Management and Payment Systems Bangladesh Bank 10 August 2010 FOREWORD A modern national
More informationWire Transfer & ACH Origination. What will you learn? Wire Transfer Origination. After this course, you will be able to:
Wire Transfer & ACH Origination Regional Payments Associations, through their Direct Membership in NACHA, are specially recognized and licensed providers of ACH education, publications and support. Regional
More informationThe Green Book & ACH Payments
Your State Association Presents The Green Book & ACH Payments Program Materials Use this document to follow along with the webinar presentation. Please test your system before the broadcast. Be sure to
More informationExpanding Same Day ACH
Expanding Same Day ACH NACHA Request for Comment December 1, 2017 2 Expanding Same Day ACH - Introduction NACHA invites comments on proposed rules to expand Same Day ACH. Currently, Same Day ACH is available
More informationBusiness to Business Payments
presents Business to Business Payments The CCD and CTX Entry Disclaimer 2011 NEACH. All rights reserved. This material is not intended to provide any warranties or legal advice, and is intended for educational
More informationKey Learning Points. Disclaimer. Compliance and Payments: A View of the Legal Framework. Lori Moore, CRCM ATTUS Technologies, Inc.
Compliance and Payments: A View of the Legal Framework Lori Moore, CRCM ATTUS Technologies, Inc. Key Learning Points Identify existing rules and regulations applicable to various payment methods Understanding
More informationNOTICE OF AMENDMENT TO THE 2016 NACHA OPERATING RULES SUPPLEMENT #1-2016
NOTICE OF AMENDMENT TO THE 2016 NACHA OPERATING RULES February 17, 2016 SUPPLEMENT #1-2016 Establishment of the Unauthorized Entry Fee Effective Date: October 3, 2016 2016 NACHA The Electronic Payments
More informationService Agreement. UltraBranch Business Edition. alaskausa.org AKUSA R 05/15
Service Agreement UltraBranch Business Edition Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration,
More informationNew Rules & Faster Payments
Payments at the Speed of Light A look at Faster Payments in the U.S. Patty Presta, AAP Vice President Professional Development New Rules & Faster Payments» Refresher Course Improving Network Quality Same
More informationELECTRONIC FUNDS TRANSFERS (EFT) AUTHORIZATION REQUIREMENTS
(EFT) WHAT ARE EFT TRANSACTIONS? Transactions initiated through electronic terminals, telephones, or computers which debit or credit a consumer s checking or savings account, are electronic funds transfers.
More informationecheck.net Compliance An Education Guide for Merchants
echeck.net Compliance An Education Guide for Merchants Table of Contents Introduction... 3 WEB - Internet-Initiated/Mobile Entry... 3 WEB Authorization Requirements... 3 WEB Example... 4 PPD (Prearranged
More informationRetail Payments Office of the Federal Reserve System 1000 Peachtree Street, N.E. Atlanta, GA
Retail Payments Office of the Federal Reserve System 1000 Peachtree Street, N.E. Atlanta, GA 30309-4470 Dear CEO: As an ACH operator, our highest priority is making the ACH system as safe and secure as
More informationCARPENTERS COMBINED FUNDS ELECTRONIC FUNDS TRANSFER (EFT) AUTHORIZATION FORM Please print or type all required information.
CARPENTERS COMBINED FUNDS ELECTRONIC FUNDS TRANSFER (EFT) AUTHORIZATION FORM Please print or type all required information. Employer Information: Employer Number (if known): Employer Name: Address: City,
More informationCopyright 2016 by the Electronic Check Clearing House Organization
National Check Payments Certification Program Series Training On Demand Session #1 Check Fundamentals and Check Processing NOTICES This training course may provide an introduction to or summary of various
More informationTreasury Management Services Product Terms and Conditions Booklet
Treasury Management Services Product Booklet Thank you for choosing M&T Bank for your treasury management service needs. We appreciate the opportunity to serve you. If you have any questions about this
More informationINTRODUCTION TO SAME-DAY ACH
INTRODUCTION TO SAME-DAY ACH Kevin Olsen, AAP, NCP VP of Payments Education About EastPay Not-for-profit Regional Payments Association Educational Programs & Payments Publications Member Benefits Voice
More informationAccount Disclosures. RDFI should review and update account disclosures to address:
IAT for the RDFI RDFI Obligations Account Disclosures OFAC Screening (Accounts) Acceptance and Screening of IAT Transactions Policies and Procedures (including OFAC) IAT Credit Processing Sample Procedures
More informationRISKS WITH SAME DAY ACH
RISKS WITH SAME DAY ACH Kevin Olsen, AAP, NCP SVP of Payments Education About epayresources Not-for-profit Regional Payments Association Educational Programs & Payments Publications Member Benefits Voice
More informationAUTOMATED CLEARING HOUSE (ACH) THIRD PARTY SERVICE PROVIDER ADDENDUM TO THE BUSINESS ONLINE USER AND ACCESS AGREEMENT
AUTOMATED CLEARING HOUSE (ACH) THIRD PARTY SERVICE PROVIDER ADDENDUM TO THE BUSINESS ONLINE USER AND ACCESS AGREEMENT We suggest you read this document carefully and print a copy for your reference. You
More informationUCC (Uniform Commercial Code) Article 4A. Mini Deck
UCC (Uniform Commercial Code) Article 4A Mini Deck Disclosure 2017 PaymentsFirst. All rights reserved. This material is not intended to provide any warranties or legal advice, and is intended for educational
More informationUCC (Uniform Commercial Code) Article 4A
UCC (Uniform Commercial Code) Article 4A Mini Deck Disclosure 2017 PaymentsFirst. All rights reserved. This material is not intended to provide any warranties or legal advice, and is intended for educational
More informationThe ACH Network: Progress and Pathways to Faster Payments
The ACH Network: Progress and Pathways to Faster Payments 2017 Merchant Acquirer s Committee Annual Conference March 21, 2015 Las Vegas, NV 2 Agenda NACHA ACH Network Recent and Upcoming Rules Changes
More informationPain Points in the Rules Phase Two Request for Comment and Request for Information. Executive Summary and Rules Description June 27, 2011
Pain Points in the Rules Phase Two Request for Comment and Request for Information Executive Summary and Rules Description June 27, 2011 REQUEST FOR COMMENT RESPONSES DUE BY FRIDAY, AUGUST 19, 2011 NACHA
More informationINTERNATIONAL ACH TRANSACTIONS. IAT Scenarios Simplified
INTERNATIONAL ACH TRANSACTIONS IAT Scenarios Simplified March 6, 2009 Several abbreviated scenarios are provided below to better understand when a specific payment transaction involving the U.S. ACH Network
More informationNACHA Operating Rules Update: Healthcare Payments
NACHA Operating Rules Update: Healthcare Payments J. Steven Stone, AAP Senior Vice President PNC Bank Chuck Floyd, AAP Manager of Education Viewpointe, LLC 2 Disclaimer This course is intended to provide
More informationP2P, A2A Payments: Perils to Protection. WACHA Conference 2016 Kimberly W. Rector, AAP
P2P, A2A Payments: Perils to Protection WACHA Conference 2016 Kimberly W. Rector, AAP You Know the Drill The views and opinions expressed in this presentation are those of the presenter (and it is likely
More informationRisks with Same-Day ACH. Presented by Kevin Olsen, AAP NCP Senior Vice President, Payments Education
Risks with Same-Day ACH Presented by Kevin Olsen, AAP NCP Senior Vice President, Payments Education 2017 Audio Handouts Questions RISKS WITH SAME DAY ACH Kevin Olsen, AAP, NCP SVP of Payments Education
More informationACH Origination Agreement
ACH Origination Agreement Company Information Company Name Address City, State, Zip hereafter referred to as Company. This Agreement is made on this day of, 2 0, by and between Company and Lakeland Bank
More informationNew ACH Stop Payment and Written Statement of Unauthorized Debit Requirements
New ACH Stop Payment and Written Statement of Unauthorized Debit Requirements Patty Presta, AAP Michael Gilchrist, AAP 2008 Western Payments Alliance. All rights reserved. No reproduction or distribution
More informationTreasury Management Services Product Terms and Conditions Booklet
Treasury Management Services Product Booklet Thank you for choosing M&T Bank for your treasury management service needs. We appreciate the opportunity to serve you. If you have any questions about this
More informationAgenda. New ACH Stop Payment and Written Statement of Unauthorized Debit Requirements. ACH Stop Payment Requirements Regulation E
2008 Western Payments Alliance. All rights reserved. No reproduction or distribution in any manner without prior written consent. New ACH Stop Payment and Written Statement of Unauthorized Debit Requirements
More informationREGULATION GG YOUR NEW OBLIGATIONS TO STOP UNLAWFUL INTERNET GAMBLING
REGULATION GG YOUR NEW OBLIGATIONS TO STOP UNLAWFUL INTERNET GAMBLING BY AMY AVITABLE ASSOCIATE DIRECTOR METAVANTE REGULATORY SERVICES SPRING 2009 Agenda Overview of requirements What is unlawful internet
More informationSame Day ACH: It s Here, You Need to Prepare
Corrected Version 1/21/2016 Same Day ACH: It s Here, You Need to Prepare Kimberly W. Rector, AAP www.macha.org MAAFP - January 2016 A lot of This 2 What It Means Background Why When it Happens How it Happens
More informationPayment Processing 101
Payment Processing 101 Timelines & Deliverables PRESENTED BY Pg: 1 March 7, 2018 www.clearwaterpayments.com Quick Agenda Credit/Debit Transactions Industry Definitions Transaction Process Cost/Pricing
More informationA2A EXTERNAL FUNDS TRANSFER SERVICE ADDENDUM TO ONLINE BANKING SERVICES AGREEMENT
A2A EXTERNAL FUNDS TRANSFER SERVICE ADDENDUM TO ONLINE BANKING SERVICES AGREEMENT Together with the Online Banking Services ( OB Services ) agreement ( Agreement ), which continues to apply and is hereby
More informationHIPAA Summit ACA Operating Rules Update. NACHA The Electronic Payments Association
HIPAA Summit ACA Operating Rules Update March 28, 2012 Janet O. Estep NACHA The Electronic Payments Association 2 NACHA The Electronic Payments Association Non-profit rule-making entity Author of the NACHA
More informationMEMORANDUM. December 7, CU*Answers Executive Council CU*Answers Board of Directors. From: Patrick Sickels Internal Auditor CU*Answers
MEMORANDUM December 7, 2015 To: CU*Answers Executive Council CU*Answers Board of Directors From: Patrick Sickels Internal Auditor CU*Answers Re: ACH Audit 2015 Attached is the 2015 ACH audit. Every other
More informationElectronic Funds Transfer Guide. Automated Clearing House (ACH) Credit Method Application Form and Instructions Included
Electronic Funds Transfer Guide Automated Clearing House (ACH) Credit Method Application Form and Instructions Included INTRODUCTION NOTE - Effective with reports for the quarter ending March 31, 2008
More informationAutomated Clearing House (ACH) Rules for Originators Trinidad and Tobago
Automated Clearing House (ACH) Rules for Originators Trinidad and Tobago Definitions Credit entries/instruments (also called Direct Credits ) allow for the disbursement of domestic currency payments only
More informationONLINE BANKING DISCLOSURE STATEMENT AND AGREEMENT
ONLINE BANKING DISCLOSURE STATEMENT AND AGREEMENT Welcome to BankUnited. This Online Banking Disclosure Statement and Agreement (this Agreement ), together with the Application, Enrollment and Set-Up Form
More informationPaying the Employee Section 5
Paying the Employee Section 5 Table of Contents INTRODUCTION... 2 TOPICS FROM CONTENT OUTLINE... 2 KNOWLEDGE, SKILLS AND ABILITIES... 2 PAY FREQUENCY... 3 PAYMENT ON TERMINATIOṆ... 3 PAYMENT METHODS...
More informationCountry Bank Cash Management Agreement
Country Bank Cash Management Agreement Date: This Country Bank Cash Management Agreement is made and entered into between ( You ) with your principal place of business as disclosed on the Cash Management
More informationRabo Commercial Banking (RCB) Agreement
Rabo Commercial Banking (RCB) Agreement Acceptance of this Agreement You accept the terms and conditions of this Agreement, as well as any amendments that may be made to this Agreement from time to time,
More informationElectronic Payments and the ACH Network: Everything a Controller Needs to Know
Electronic Payments and the ACH Network: Everything a Controller Needs to Know Robert Unger Senior Director Product Management and Corporate Relations NACHA-The Electronic Payments Association 2 Agenda
More informationIAT Modifications Proposed Modifications to the Rules August 15, 2012 ISSUE #1 - IDENTIFICATION OF COUNTRY NAMES WITHIN IAT ENTRIES
Proposed Modifications to the Rules ISSUE #1 - IDENTIFICATION OF COUNTRY NAMES WITHIN IAT ENTRIES APPENDIX THREE ACH RECORD FORMAT SPECIFICATIONS Subpart 3.2.2 Glossary of Data Elements Originator Country
More informationEnhancements to ACH Applications ARC, BOC, POP, TEL and XCK; Collection of Service Fees Request for Comment
Enhancements to ACH Applications ARC, BOC, POP, TEL and XCK; Collection of Service Fees Request for Comment Executive Summary and Rules Description June 24, 2010 REQUEST FOR COMMENT RESPONSES DUE BY FRIDAY,
More informationSame Day ACH Transaction Risk
Same Day ACH Transaction Risk The Clearing House Puerto Rico Payment Symposium August 21, 2015 Same Day Risk Agenda: Same Day ACH Background Settlement Operations Returns Risk Associated with Same Day
More informationecorp Online Banking Access Agreement
ecorp Online Banking Access Agreement This Corporate Internet Banking Service Agreement ( Agreement ) is a contract which establishes the rules which cover your electronic access to your accounts at the
More informationEmployer Sign-Up Form
Employer Sign-Up Form Instructions: All fields are required unless otherwise noted. Please complete this form using your computer or print clearly, then fax it to Business Relations at 920-803-4184. Be
More informationACCOUNT AGREEMENT CHECKING ACCOUNT ACCOUNT TITLE AND ADDRESS N/A. N/A N/A Individual Free Checking N/A
ACCOUNT AGREEMENT CHECKING ACCOUNT ACCOUNT TITLE AND ADDRESS N/A ACCOUNT OPEN DATE ACCOUNT NUMBER OWNERSHIP TYPE PRODUCT NAME INITIAL DEPOSIT N/A N/A Individual Free Checking N/A DEFINITIONS. Throughout
More information