Key Take Away:
This webinar will definitely help clear things up in the exception processing of ACH transactions on unauthorized, authorization revoked and stop payments.
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 webinar will help find answers to these struggles. These are still the number one issues in the exception processing of ACH transactions on a daily basis.
Do you often wonder when to use a Stop Pay form and when to use a Written Statement of Unauthorized Debit (WSUD)? This is YOUR webinar!
The speaker 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.
The NACHA Operating Rules training has specifics for you to follow to be sure you are in compliance each time you help your account holder with their request(s).
Key points illustrated in the program in the form of case studies will assist customer service and front-line staff as well as identify details for operations staff.
Why Should You Attend:
Do you need further instructions on how to process ACH exceptions, the entries that show up on your non-post or exception report? The entries your account holder is stating they never authorized or they revoked the authorization, the timeframe and the type of documentation needed. How do you handle a Stop payment for a consumer account vs. a non-consumer account – what is the timeframe – Do you need paperwork.
Areas Covered In This Webinar:
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
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 through the use of scenarios – the what, when and how of Stop Payments and Returning Unauthorized Entries
Who Will Benefit:
Financial Institution Professionals (New/Current Operations Staff)
Banking Operations Managers and Staff
Compliance and Risk Professionals
Treasury Management Professionals
Aspiring and Current AAPs (Accredited ACH Professionals)
Company/ Business Owners (Originators)
Banking Managers/ Supervisors
Third-Party Service Providers and Third-Party Senders
Audit and Compliance Personnel/ Risk Managers
Donna K. Olheiser
Donna K Olheiser, AAP, is the Vice President of Education Services and founder for Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ experience. She has designed and facilitated over 150 training sessions each year with her expertise being the Rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate/deliver the material through a variety of venues (webinars, tele-seminars, in-person workshops, including regional and national conferences).
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