ACH Origination and Same Day Entries
Course Number: Webinar
Course Code: n/a
What are your responsibilities and warranties?
Whether you are just starting your ACH Origination program or have numerous customers, you need to understand Article Two of the ACH Rules. Join us and learn how to decipher the SEC Codes, how the products work and what your warranties are.
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 dive into the Standard Entry Class (SEC) Codes. We’ll look at the authorization requirements, format and specific warranties for each of the 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.
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
Audience: This course is designed for compliance personnel, auditors, operations personnel, senior management and all others interested in gaining knowledge on ACH Origination and SEC codes.