Calendar of Events

ACH Origination and Same Day Entries

02/28/2018, 1:30 PM to 3:30 PM

No location provided

Amy Davis adavis@msbankers.com 601-948-6366

Description:

ACH Origination and Same Day Entries


Presented by Kate Cole
Wednesday, February 28th, 2018
1:30 pm - 3:30 pm CT
 

What are your responsibilities and warranties?

One of the important factors about ACH Origination is that any sized financial institution can offer the product. But it is a product and you have to know what your offering, how it works, who you’re offering it to and how to manage your risk. Same Day ACH is another product within ACH that you can offer.

  The ACH Rules were written so the Originating Depository Financial Institution (ODFI) carried the origination responsibilities and warranties. As the ODFI, you pass those onto your Originators through a contract. You are still, however, ultimately responsible and you must know the warranties. In this session, we are going to review the general origination warranties and then review the most used Standard Entry Class (SEC) Codes. We'll look at the authorization requirements, format and specific warranties for those SEC Codes. We will also discuss the new Same Day ACH and how your origination business may change with this option. Join us and learn how to decipher the SEC codes, how the products work and what your warranties are.
 

Covered Topics:

  • ACH Rule warranties for origination
  • ACH authorizations by SEC Code
  • The impact of Same Day ACH
  • Specific warranties for each SEC Code
  • ACH Formats by SEC Code
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