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2017 - Guidance for Stop Payments vs. Unauthorized Entries



VenueAurora, USA - United States USA - United States

KeywordsAch operations; Ach payment processing; Ach compliance


Topics/Call fo Papers

The NACHA Operating Rules have specifics for you to follow when doing Stop Payments and returning Unauthorized ACH Entries. This session will identify what those Rules, timeframes and exceptions are to be sure you comply with the Rules each time you help your account holder with their request(s).
Key points illustrated by the trainer in the program using case studies and examples that ACH operations staff deal with every day will assist customer service, front-line staff and identify details for operations staff.
This 90-minute information-filled session covers everything you need to know about Stop Payments and doing Extended Return Entries (a.k.a. Unauthorized Returns, Authorization Revoked and Improper Entries)
When should you use a Stop Payment form, when to use a WSUD (Written Statement of Unauthorized Debit) – and what needs to be on that form will be covered in this session.
Relying on the SEC Code when doing Returns is a big deal and will be addressed in this session – What is the SEC Code of the Entry you are Returning – will determine what Return Reason Code and the timeframe plus the paperwork needed or not.
This session will identify when to do what and why – plus scenarios to help apply the rules and processes discussed throughout the session.
A “must-attend” session!
Customer service and operations staff struggle each day with the question – “What does my account holder want me to do…Stop this payment, I never authorized this, return it, they revoked it, -- what are my next steps?” This training program will help find answers to these struggles. 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. Frontline staff and operations staff will feel confident in their choice of action to help customers and adhere to the NACHA Operating Rules.
• Elements required for the WSUD – according to the NACHA Operating Rules
• What is an unauthorized transaction, timeframe to return and when you need a completed and signed WSUD
• What is Authorization Revoked – What does this mean to me as a financial institution when returning an Entry?
• When do I use the Return reason code R07-Authorization Revoked?
• Warranties of the RDFI when transmitting Extended Return Entries
• Specific Rules regarding Stop Payments for consumer vs corporate accounts
• Timeframe for a Stop Payment (single and recurring entries)
• Responsibilities and warranties of the RDFI for Stop Payments
• Identify when to use a Stop Pay form and when a Written
• Statement of Unauthorized Debit (WSUD) is necessary
• Financial Institution professionals (new/current operations staff)
• Banking Operations managers and staff
• Compliance and Risk professionals
• Treasury Management professionals
• Aspiring and current AAP’s (Accredited ACH Professionals)
• Company / Business Owners (Originators)
• Banking Managers/ Supervisors
• Audit and Compliance Personnel / Risk Managers
• Define the rules surrounding Stop Payments
• Identify the difference in the rules between a consumer and non-consumer Stop Payment
• 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
• Illustrate what constitutes an entry to be returned as Authorization Revoked vs. Stop Payment vs. Unauthorized
• Describe the Rules using scenarios – the what, when and how of Stop Payments and Returning Unauthorized Entries
For more detail please click on this below link:
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Last modified: 2017-10-04 13:35:18