Boot Camp -Obligations, Responsibilities and Warranties of the RDFI and ODFI for Special Processes-2-Part Series

Duration: 180 Minutes
This 2-part series Boot Camp will provide details on all the Responsibilities, Obligations and Warranties of the RDFI and ODFI for ACH special processes such as: Prenotes, Reinitiation, Reversals, Returns, NOCs. Each session will cover a different set of processes relating to a specific participant (ODFI or RDFI) - be sure to attend both sessions to get the full effect of how each participant in the network have different responsibilities, obligations and warranties and how to be sure you're in compliance with the NACHA Operating Rules.
ACH Compliance
Instructor: Donna K Olheiser
Product ID: 501283
Objectives of the Presentation
  • Responsibilities for the RDFI accepting ACH entries and their right to return
  • Obligations of the ODFI/Originator when initiating Prenote Entries
  • Warranties of the RDFI when sending NOCs
  • New rules relating to reinitiation of entries by the ODFI
  • RDFI warranties when transmitting extended returns
  • New rules process relative to Reversal Entries
Returns & NOCs - the RDFI processes-Part 1

Description
An RDFI must accept all types of entries with the right of return. What does that mean to you? As an RDFI there are specific responsibilities, obligations and warranties when you initiate (or transmit) Return Entries. Notifications of Change are optional for the RDFI - But, if they do them - what are the warranties that go with the COR Entries? Also covered is the reversal Process which is now referred to as the Dishonored Returns and Contested Dishonored Returns Related to an Unintended Credit to a Receiver.

Areas Covered
Included in this session will be the following:
  • Timeframes for doing returns
  • General Returns and Stop Payments
  • Warranty details of the RDFI for Extended Return Entries
  • Details on the NEW Dishonored Return Reason Code R62 - Return of Erroneous or Reversing Debit and the NEW Contested Dishonored Return Reason Code R77 - Non-Acceptance of R62 Dishonored Return can be used
  • Notification of Change warranties
*Note: Click Here to Register only for this Webinar

Prenotes, NOCs and Returns - the ODFI processes-Part 2

Description
For an ODFI/Originator, Prenotes are optional - But, if they do them, what are the responsibilities, obligations and warranties? Recent Rule Changes add more responsibility to both the Originator and ODFI. The responsibilities when the ODFI receives a COR entry (NOC) and who is ultimately responsible for that change being made will all be included. NEW Rule changes affect the process used today for Reinitiation of Entries by the Originator/ODFI New format changes for a reinitiated entry and New Return Reason Codes have been added to both these processes.

Areas Covered
In this session, you will receive details on:
  • Recent Rule change that resulted in reducing the amount of time between a prenote and a live entry
  • How the Rule change on Prenotes affects the ODFI (and the RDFI) - with a calendar view to make it clear
  • Dishonored Returns can be transmitted by the ODFI in what circumstances
  • ODFI responsibilities when they receive the COR (NOC) Entry
  • Originator responsibilities relating to a COR (NOC) Entry
  • ODFI obligations when receiving a contested dishonored return
  • Format change details for the ODFI/Originator on the New Rule for Reinitiation of Entries
  • Details on what is considered a valid reinitiation and RDFI guidelines on what to do if a reinitiation is in violation of the NEW Rule
  • Reversal processes defined for both the ODFI and RDFI
*Note: Click Here to Register only for this Webinar

Who can Benefit
ACH operations staff, treasury professionals, AAP's for AAP CE (Continuing Education) Credits, ACH auditors (internal and external), CFO's to pass on to their staff, Bank Management, companies who process electronic payments for themselves and for other companies (i.e. payroll processors).

Topic Background
The RDFI and ODFI perform special ACH payment processing duties - these duties paired with their responsibilities, obligations and warranties will be the focus of this 2-part boot camp.Special Processes such as Returns & NOCs, Also the NOC process for the ODFI - to include the New Rule on Reinitiation and also the Reversal Process with 2 New Return Reason Codes.

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Live Session - How it works
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  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
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  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years' training experience. She has designed and facilitated over 100 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 and deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).

Her extensive knowledge, enthusiasm and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Ms. Olheiser's ability to engage the learner through the entire training event helps the adult learner apply what they've learned during and after each training session.

She has over 24 years of experience in the financial services industry which includes 9 years' experience as the education service director at a Regional Payments Association (RPA), where she managed and facilitated the entire education program for nearly 800 financial institution members. Prior to that, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004).
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