RDFI: ACH by the numbers Flashcards
Originator or ODFI must transmit Reversing File and any corresponding Correcting File within _______ of discovery of Erroneous File
24 hours
ACH Operator must transmit Reversing File, and, if applicable, Correcting File, within ______ of discovery of Erroneous File
24 hours
ODFI must provide Originator information regarding NOC or corrected NOC
2 Banking Days
Third-Party Sender must provide ODFI with information to identify each Originator for which the Third-Party Sender transmits entries
2 Banking Days
RDFI must provide Payment-Related Information to Receivers of CCD, CTX, CIE, and IAT entries upon non-consumers Receiver’s request
2 Banking Days
RDFI must return any credit entry following the RDFI’s notification of refusal of the entry from its Receiver
2 Banking Days
RDFI must transmit Return entry to its ACH Operator by the ACH Operator’s deadline for the Return entry to be made available to the ODFI no later than the opening of business on the ___________ following the Settlement Date of the original entry (except for Extended Return Entries)
2 Banking Days
RDFI must return all credit entries that are not credited or otherwise made available to Receiver accounts
2 Banking Days
RDFI must Transmit a corrected/contested dishonored Return
2 Banking Days
RDFI may originate ACK/ATX for Transmittal to ODFI
2 Banking Days
Consumer Receiver must verbally or in writing make stop payment request to RDFI for recurring entry
3 Banking Days: Reasonable Opportunity to Act (for single entry stop payment only)
For single entry an RDFI must honor a stop payment provided by a Receiver to the RDFI in time to allow for reasonable opportunity to act.
3 Banking Days: Reasonable Opportunity to Act (for single entry stop payment only)
Originator who initiated Prenote may not originate entries to Receiver’s account until the __________ from Settlement Date of Prenote.
3 Banking Days: Reasonable Opportunity to Act (for single entry stop payment only)
Reversing File (and Correcting File) must be sent by the Originator or ODFI to ACH Operator within __________ after Settlement Date of Erroneous File (also applies to Reversing entries)
5 Banking Days
Originator or ODFI must originate Reclamation entry or written demand for payment within __________ after Originator receives notice of death
5 Banking Days
RDFI may transmit corrected COR
5 Banking Days
ODFI must transmit a Dishonored Return within __________ of Settlement Date of Return
5 Banking Days
Originator must make changes specified in NOC or corrected NOC with __________ of receipt of NOC information (or prior to initiating another entry, whichever is later)
6 Banking Days
Originator to Receiver – written notice of change in scheduled debit date
7 Calendar Days
Banking: ODFI provide record of authorization to RDFI written request or accept return entry
10 Days (note banking or calendar)
Calendar: Originator send to Receiver written notice of change in amount to variable debit
10 Days (note banking or calendar)
Banking: ODFI provide copy of Source Document to Receiver upon written request for ARC, BOC (request must be within 2 years from Settlement Date of entry)
10 Days (note banking or calendar)
Banking: Return Rate Reporting/Reporting when Return Threshold is Exceeded - ODFI must provide information about Originator or Third-Party Sender to Nacha
10 Days (note banking or calendar)
Banking: RDFI must provide copy of Written Statement of Unauthorized Debit to ODFI upon written request
10 Days (note banking or calendar)
Oral stop payment request is binding
14 Calendar Days
Reclamation entry returned by RDFI – Originator may make a written demand within __________ after receipt of the return
15 Banking Days
ODFI must transmit refused NOC to ACH Operator within __________ of receipt of NOC
15 Calendar Days
DFI must provide copy of item to which XCK entry relates to the RDFI and to the first DFI to which the item was transferred (if different) within __________ of receipt of written request
30 Calendar Days
A Return Fee entry that is authorized by notice must have a Settlement Date that is no later than __________ after the Settlement Date of the ACH Return entry or check to which the fee relates
45 Calendar Days
FI must update ACH Contact registry within __________ of making changes.
45 Calendar Days
Originator may originate new Entry within __________ after Settlement Date of the receipt of an Entry returned R11 (Customer Advises Entry Not in Accordance with the Terms of the Authorization)
60 Calendar Days
RDFI may make a warranty claim for entries settling within __________ from Settlement Date of the first unauthorized entry to a consumer account.
95 Days
Non-consumer stop payment request if received in writing
6 Months
RDFI must retain copy of WSUD __________ from the Settlement Date of the Return entry
1 Year
An ACH Operator must retain a Record of all entries received or transmitted by it for __________ from the date the entry was received or transmitted.
1 Year
RDFI may make a warranty claim for an entry to a non-consumer account for a period of __________ from Settlement Date of an Entry.
1 Year
Originator or ODFI must reinitiate a returned entry within __________ from Settlement Date of original entry
180 days
RDFI may make a warranty claim for an entry to a consumer account for a period of __________ from Settlement Date of an Entry
2 Years
Originator must retain the original or a copy of each authorization of a Receiver for __________ from the termination or revocation of the authorization.
2 Years
Exception: RCK (See 7 Years.)
2 Years
A participating DFI must retain a Record of each entry for __________ from the date the entry was transmitted.
6 Years
RDFI right to request copy of item to which an XCK entry relates
6 Years
Originator must retain copy of front and back of the item to which an RCK entry relates
7 Years
