Obligations, responsibilities and warranties of the rdfi

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Obligations, Responsibilities and Warranties of the RDFI and ODFI for Special Processes: Returns & NOCs - the RDFI processes-Part 1:

www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com


Instructor Profile: •

Donna has over 24 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, Donna 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). Donna's 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. Donna'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

www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com


Description:

An RDFI must accept all types of entries with the right of return. What does that mean to you?As an RDFI there are specific responsibilities, obligations and warranties when you initiate (or transmit) Return Entries. Notifications of Change are optional for the RDFI - But, if they do them - what are the warranties that go with the COR Entries?Also covered is the reversal process which is now referred to as the Dishonored Returns and Contested Dishonored Returns Related to an Unintended Credit to a Receiver.

www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com


Objectives of the Presentation: •

Responsibilities for the RDFI accepting ACH entries and their right to return

Obligations of the ODFI/Originator when initiating Prenote Entries

Warranties of the RDFI when sending NOCs

New rules relating to reinitiation of entries by the ODFI

RDFI warranties when transmitting extended returns

New rules process relative to Reversal Entries

www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com


Areas Covered: •

Included in this session will be the following:Timeframes for doing returns

General returns and stop payments

Warranty details of the RDFI for extended return entries

Details on the new Dishonored Return Reason Code R62 - Return of Erroneous or Reversing Debit and the new Contested Dishonored Return Reason Code R77 - Non-Acceptance of R62 Dishonored Return can be used

Notification of change warranties

www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com


Who can Benefit: ACH operations staff, treasury professionals, AAP's for AAP CE (Continuing Education) Credits, ACH auditors (internal and external), CFO's to pass on to their staff, Bank Management, companies who process electronic payments for themselves and for other companies (i.e. payroll processors).

This webinar is a part of "Boot Camp -Obligations, Responsibilities and Warranties of the RDFI and ODFI for Special Processes-2-Part Series" Webinar Series. Click here to know more.

Track this Link: Obligations , Responsibilities and Warranties www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com


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