Unauthorized Returns can be confusing and time consuming. As an RDFI you have a right to Returns and when your account holder requests an Entry to be returned because it is unauthorized, are you up to date on the Rules? When sending unauthorized Returns, it is crucial to be in compliance with the NACHA Operating Rules. This session will provide the details on recent changes to the unauthorized return process (effective in 2020).
Details from an RDFI returning a questionable item(R17) to returning an Unauthorized Entry with options based on the explicit reason for the Unauthorized Return will be covered (NEW Return Reason Code R11).
When a Receiver (account holder) at the RDFI states they have an ACH Entry that is unauthorized, the RDFI will comply with the request and by following the NACHA Operating Rules, send the Entry back as an unauthorized Return Entry. Specific Rules are outlined for this process during this 90-minute session with examples of how and what these changes will mean to the RDFI, the ODFI and the Originator of the ACH Entry being returned.
Details on newly approved changes and options when doing ACH Returns for questionable items that don’t post and for unauthorized Entries, based on the specific detailed “reason” for the unauthorized Return Entry.
Differentiating between the specific reasons for sending an unauthorized Entry (using R10 or R11) is crucial when sending the right message back to the Originating company to help them further identify the specifics of “why” the Entry is being returned.
Identifying the details and how this additional unauthorized return reason code is being monitored by the ODFI to comply with their reporting requirements (as defined by NACHA) and details on the Unauthorized Return Entry Fee, during a phased approach going into 2021, will be covered.
To ensure compliance with the NACHA Operating Rules, the RDFI must be aware of the options when returning unauthorized Returns and the ODFI aware of the different Return Reason Codes and what they mean.
In this 90-minute session, the trainer will cover all the recently approved changes and details for returning an unauthorized transaction, including when to use a R10 or an R11 Return Reason Code. Examples used throughout the session will outline these changes, describe their effect on you as a participant in the ACH network, whether you are an RDFI or an ODFI.
The trainer will use scenario-based examples to make the changes easy to understand and apply to the daily ACH operations tasks.
This is a must-attend session, Register Today!