Stop Payments vs Unauthorized Entries - Compliance with the Nacha Operating Rules

This training program will help find answers to many struggles with Stop Payments and Unauthorized Entries. These are still the number one issues in the exception processing of ACH transactions on a daily basis. This 90-minute session will definitely help clear things up on processing unauthorized, authorization revoked and stop payments!

Why Should You Attend:

Recent “minor Rules changes” made Stop Payments different in the Rules with the language used and what happens with Stop Payments due to Meaningful Modernization. Customer service, frontline and operations staff struggle each day with the question - “What does my account holder want me to do…Stop this payment, return it, they revoked it, - what are my next steps?” What about Unauthorized Entries - Discussion on the difference between R10 and R11 will be included.

Do you often wonder when to use a Stop Pay form and when to use a Written Statement of Unauthorized Debit (WSUD)? This is YOUR session!

Recent UPDATES to the Rules indicate how Meaningful Modernization and subsequent Entries fit into this compliance requirement.

• Updates to the Rules for using Unauthorized Return Reason Code R11 - changes this process
• The trainer will provide scenario examples of your account holder saying they want you to stop a payment, or they revoked it - why is their account being debited or they never authorized a payment that is already posted to their account. The Nacha Operating Rules have specifics for you to follow to be sure you are complying each time you help your account holder with their request(s).
• Determine the difference with Stop Payment for business accounts.
• Help identify what form to use and in which situation.
• What questions and conversations should be taking place between the account holder and the customer service or frontline staff working with them?
• Key points illustrated in the program in the form of case studies will assist customer service and front-line staff as well as identify details for operations staff.

Areas Covered in the Webinar:

• Define the rules surrounding Stop Payments
• What’s changed with Meaningful Modernization and Stop Payments
• Identify the difference in the rules between a consumer and non-consumer Stop Payment
• What’s changed with non-consumer Stop Payment timeframe
• List tips that will help customer service and frontline staff ensure they are asking the right questions of the account holder
• Outline what an unauthorized transaction is and when to use a Written Statement of Unauthorized Debit (WSUD)
• Review timeframes for Stop Payments and Unauthorized Payments
• Define the NEW R11 Return Reason Code and the difference between R11 and R10
• Illustrate what constitutes an entry to be returned as Authorization Revoked vs. Stop Payment vs. Unauthorized
• Describe using scenarios - the what, when and how of Stop Payments and Returning Unauthorized Entries

Who Will Benefit:

• Bank operations staff
• New employees in the payments industry
• Bank managers and payment professionals
• CEO’s and CFO’s
• Risk, Compliance and Audit personnel
• Aspiring AAP’s and current AAP’s for AAP CE Credits