Webinar: RDFI Returns: 2 Banking Days vs. 60 Calendar Days - Understanding the Difference
April 25, 2023 11:00 am - 12:30 pm
There’s a big difference between two banking days and 60 calendar days.
Do you know which applies to an RDFI return deadline under any given scenario? When is a Written Statement of Unauthorized Debit required? This webinar will explain everything you need to know about ACH return reason codes and timeframes.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Use the appropriate return reason code for timely ACH returns using the general and extended return timeframes
- Define your institution’s responsibilities under the Nacha rules and Regulation E regarding ACH transactions
- Explain the authorization requirements for ACH entries, including the retention timeframe
- Distinguish between ACH returns requiring a Written Statement of Unauthorized Debit (WSUD) versus those that do not require any documentation
- Understand the process for an RDFI to request proof of authorization from an ODFI
WEBINAR DETAILS
ACH return reason codes generally fall into one of two timeframes: the general return timeframe (two banking days) or the extended return timeframe (60 calendar days). This webinar will examine these two very different timeframes. It will address the authorization requirements for ACH entries, when a Written Statement of Unauthorized Debit is necessary, and how an RDFI may request proof of authorization from an ODFI.
WHO SHOULD ATTEND?
This informative session is designed for frontline staff, tellers, service representatives, and ACH operations staff.
TAKE-AWAY TOOLKIT
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
Speaker: Kimberly Ellis, UMACHA
Kimberly Ellis is the Director of Education Services for UMACHA where she provides training and support for financial institutions in the areas of payments and risk management. She graduated from Western Illinois University with a Bachelor of Arts degree in Economics. She holds the Accredited ACH Professional (AAP), Accredited Payments Risk Professional (APRP), and National Check Professional (NCP) Certification. She spent 17 years working in community banks in Southeast Iowa before joining UMACHA in 2020. She has experience working with deposit operations and compliance, risk management, and support for corporate ACH originators.