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ACH Exception Processing – Part 1 “Returns & NOC’s”
- Responsibilities for RDFI accepting ACH entries and the right to return
- General Returns, timeframes and scenarios to demonstrate Rules
- Extended Returns, timeframes and examples to help identify
- Stop Payment details for the RDFI and ODFI plus the Originator
- Warranties of the RDFI when sending NOCs (COR Entries)
- RDFI warranties when transmitting Extended returns
- Minimum requirements for WSUD when sending Extended Returns
- Return Entries in the Same Day environments – send Same Day for faster settlement without paying the same day fee
Overview of the webinar
Session 1: Returns and NOC’s - An RDFI must accept all types of entries with the right of return. What does that mean? As an RDFI there are specific requirements and warranties when you initiate (or transmit) Return Entries. Extended Return timeframes and when do you need to use a WSUD. Also included are Stop Payment Rules for consumer payments vs corporate payments. Notifications of Change are optional for the RDFI - But, if they do them – what are the warranties that go with the COR Entries? Included in Session 1, will be the following:
- Timeframes for returning ACH Entries (general and extended returns)
- Stop Payments-Consumer vs Non-Consumer and Single vs Recurring
- Warranty details of the RDFI for Extended Return Entries
- Timeframes for Contested Dishonored Returns
- Notification of Change warranties for the RDFI
- Notification of Change Timeframes and details when sending
Who should attend?
- ACH Operations staff
- Compliance Officers (Auditors)
- ACH Managers
- Electronic Payments Professionals
- AAP’s - keeping up with changes in ACH Rules and wanting to earn AAP Continuing Education Credits
- Anyone who wants to enhance their knowledge of new rules
Why should you attend?
This is Part 1 of a 3-part Series on Exception Processes. Does the details relating to the “Returns” process seem confusing? All the details will be covered during this 90-minute session; from general and administratie returns, stop payments and extended returns. Attend this session and be able to identify timeframes for all types of returns, which returns need paperwork completed by the Receiver (such as the WSUD) and retention timeframes for the paperwork. The trainer during this session will outline what you need to know about the ACH Return process by using scenarios to help ensure you’re in compliance with the NACHA Operating Rules.
Faculty - Ms.Donna Olheiser
Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ experience. She has designed and facilitated over 150 training sessions each year with her expertise being the rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).
Ms. Olheiser is also an experienced project manager managing education programs for organizations per their requests on processing electronic payments while developing personalized training programs for financial institutions. She has over 23 years of experience in the financial services industry which includes 9 years’ experience as the education service director at a Regional Payments Association (RPA), where she managed and facilitated the entire education program for nearly 800 financial institution members. Prior to that, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004).
Her extensive knowledge, enthusiasm, and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Ms. Olheiser’s ability to engage the learner through the entire training event helps the adult learner apply what they’ve learned during and after each training session.