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 authorization requirements, revocations, and Notifications of Change (NOCs) in the ACH network from the perspective of how each affects a business originator.
Why Should You Attend:
Obtaining a proper, valid authorization is one of the most important steps a business can take. Proper authorizations reduce returns, legal disputes, compliance issues, and losses, but each type of transaction has different authorization criteria. All the different requirements can be confusing. And remember, your business also has authorization-related obligations that range from providing proof of authorizations to consumer data protection.
In this course, the instructor will examine sound business practices of the authorization process, from developing to collecting, storing and protecting. When consumers revoke their authorization, businesses have new obligations under the ACH Rules. The revocation inactivates the authorization you have for the consumer, for which the course will evaluate tried and true practices for businesses to collect and act on revocations.
At times, accounts for your customers or business partners change so you will receive Notifications of Change (NOCs). Properly handling NOCs requires understanding what is being communicated to you and acting properly on this new information. The instructor will dissect an NOC and help attendees determine what actions are required.
In addition to course materials, attendees will receive a Quick Reference Standard Entry Class Code 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 - Pre-Notifications, Returns and Reversals - Part 3
Learning Objectives:
- Recognize authorization requirements for different types of ACH transactions
- Summarize authorization handling requirements
- Discover sound business practices to manage revocations
- Identify Notification of Change obligations
Areas Covered in the Webinar:
Authorizations
- Define a valid, proper authorization
- Unique requirements for different Standard Entry Class Codes
- Sound business practices to manage the authorization process
- Protecting consumer information
- Responding to a request for an authorization
- When you may need a new authorization
Notifications of Change
- What they are
- How to handle when you receive one
- When action is required
Revocations
- When consumers revoke their authorization
- Sound business practices for handling revocations
- What the ACH Rules require
- Other considerations
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,
