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Validity : 02nd Dec'24 to 12th Dec'24
Key points illustrated will assist your customer service and front-line staff as well as your operations staff. In this session, the trainer will:
The NACHA Operating Rules have specifics for you to follow to be sure you comply with the Rules each time you help your account holder with their request(s), whether it’s a Stop Payment Request or Returning an ACH Unauthorized Entry.
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 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). Timeframes will be covered, including the effects of Same Day additional windows to allow for a “Faster Return” process.
Details include when should you use a Stop Payment form, when to use a WSUD (Written Statement of Unauthorized Debit) – and what needs to be on each of those forms, and why, 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.
Have you struggled with the question – “When do I use a Stop Pay form and when do I need a Written Statement of Unauthorized Debit (WSUD)?” This is YOUR session!
The trainer in this session will provide examples of when to use which form (Stop Payment form OR WSUD (Written Statement of Unauthorized Debit) and why plus tying this information back to what the NACHA Operating Rules state to ensure you are in compliance (exactly what your obligations and responsibilities are) with each the time you help your account holder with their request.
Included in this session will be detailed on the difference between using R10 and R11 when returning an Entry as unauthorized in the ACH network.