Compliance Time Frames Flashcards

1
Q

Standarad return timeframe (back to the RDFI)

A

2 Banking Days

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2
Q

Dishonor a Return

A

5 Banking Days

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3
Q

Contest or correct a dishonored return

A

2 Banking Days

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4
Q

Originate a NOC From Settlement date of original entry

A

2 Banking Days

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5
Q

Response to a Refused NOC

A

5 Banking Days

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6
Q

Originate a commercial Reclamation from date of death notification

A

5 Banking Days

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7
Q

Originate a File or Single-entry Reversal Following the Settlement Date of the transaction(s)

A

5 Banking Days

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8
Q

Return of an XCK entry

A

60 Calendar Days

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9
Q

Return of a revoked or unauthorized consumer transaction

A

60 Calendar Days

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10
Q

Return of an unauthorized corporate transaction

A

2 Banking Days

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11
Q

Refuse a Notification of Change

A

15 Calendar Days

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12
Q

Originators must make changes specified in an NOC within ___ of receipt of NOC or prior to initiating another entry to the Receiver’s account, whichever s later

A

6 Banking Days

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13
Q

Send Report of Possible Rules Violation from date of occurrence to Nacha

A

90 Calendar Days

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14
Q

Notification to Receiver of change in amount of debit

A

10 Calendar Days

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15
Q

Send copy of item (relating to RCK) to RDFI upon request

A

10 Banking Days

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16
Q

Notification to receiver of change in date of debit

A

7 Calendar Days

17
Q

Make changes specified by the NOC before next transaction

A

6 Banking Days

18
Q

Originate first live dollar following settlement date of Prenote

A

3 Banking Days

19
Q

Provide NOC or Corrected NOC information to Originator

A

2 Banking Days

20
Q

Retention of copay relating to RCK item

21
Q

Retention of all ACH Records (ODFI, RDFI)

22
Q

Retain copy of item to which XCK relates

23
Q

Retention of consumer authorization after termination

24
Q

Retention of ACH Records (ACH Operator)

25
Retention of Written Statement of Unauthorized Debit
1 Year
26
ODFI reporting requirements to Nach's inquiry on Originator With Excessive unauthorized Returns
10 Banking Days
27
RDFI provides copy of Written Statement upon ODFI's request
10 Banking Days
28
Originator may make a written demand for payment within ___ after it receives the returned Reclamation entry.
15 Banking Days