This three-part webinar series is designed specifically for businesses who either currently process ACH credits and/or debits, or those exploring the network for use in the future. Each session will focus on niche areas of ACH essentials. This course in the series will explore ACH pre-notifications, returns and reversals from the perspective of how each affects a business originator.
Why Should You Attend:
Properly sending ACH entries is just the beginning. There are a number of additional ACH processes that can affect a business using the ACH network. Some financial institutions require their business ACH originators to submit pre-notifications before using the network for live entries. This requires planning as there is a waiting period once the pre-notification is submitted, and if you receive a return on the pre-notification, your business has new obligations.
Speaking of returns, your business can receive returns for a lot of different reasons. The reason for the return dictates what your business can and can’t do. Improper returns handling causes losses, compliance issues, and a lot of work explaining the mishandling to your institution. Your business could even be fined.
This course, in addition to existing ACH Rules regarding returns, will explore the ramifications of the new 2016 return rules, namely the financial penalties related to unauthorized returns and what your business can do to avoid unnecessary exposure.
It will also evaluate reversals - a process in the ACH network that allows a business to attempt to reclaim funds sent in error. This process isn’t a guarantee, and there are some important facts you need to know before using this option.
Attendees of this session will receive an ACH Returns Quick Reference Guide. We encourage attendees to keep your ACH Rules book handy. You can get a copy from your financial institution, or a regional payments association in your area
Webinar Series:
- A2Z of ACH - Transaction Flows and Standard Entry Class Codes - Part 1
- A2Z of ACH - Authorizations, Revocations, and NOCs - Part 2
Learning Objectives:
- Contrast the benefits and challenges of pre-notifications
- Identify the types of ACH returns a business can receive and what their compliance obligations are for each return type
- Examine the entry reversal process
- Locate appropriate ACH Rules references for each subject in the ACH Rules book
Areas Covered in the Webinar:
Pre-notifications
- What is a pre-notification and why are they used
- Timing of pre-notifications
- What a pre-notification can tell a business
- The dos and don’ts of pre-notes
Returns
- Identify types of returns a business can receive
- What each return type means
- Isolate when/if remedy is available through the ACH network or if you must collect outside of the network
- Types of returns that require a new authorization before you can attempt to collect through the ACH network
- Limits and timeframes
- 2016 New ACH Rules regarding returns
Reversals
- When you can initiate a reversal
- Reversal requirements
- The reversal process
- Risks
- When reversals fail
Who Will Benefit:
- Financial Institution Executives and Professionals
- Banking Operations Managers and Staff
- Treasury Management
- AAPs (Accredited ACH Professionals)
- Payroll Processors
- Company/Business Owners (Originators)
- Banking Managers/Supervisors
- Third-Party Service Providers and Third-Party Senders
- Audit and Compliance Personnel/Risk Managers
- Professionals from Financial Institutions
- Treasury Management
- Any business that currently uses ACH and wants to expand their knowledge
- Businesses who plan to expand their use of ACH and want to explore transaction options
- Businesses exploring ACH for the first time
Course Provider
Rayleen M Pirnie,
