A2Z of ACH - Pre-Notifications, Returns and Reversals - Part 3

Why Should You Attend:

Properly sending ACH entries is just the beginning. There are a number of additional ACH processes that can affect a business using the ACH network. Some financial institutions require their business ACH originators to submit pre-notifications before using the network for live entries. This requires planning as there is a waiting period once the pre-notification is submitted, and if you receive a return on the pre-notification, your business has new obligations.

Speaking of returns, your business can receive returns for a lot of different reasons. The reason for the return dictates what your business can and can’t do. Improper returns handling causes losses, compliance issues, and a lot of work explaining the mishandling to your institution. Your business could even be fined.

This course, in addition to existing ACH Rules regarding returns, will explore the ramifications of the new 2016 return rules, namely the financial penalties related to unauthorized returns and what your business can do to avoid unnecessary exposure.

It will also evaluate reversals - a process in the ACH network that allows a business to attempt to reclaim funds sent in error. This process isn’t a guarantee, and there are some important facts you need to know before using this option.

Attendees of this session will receive an ACH Returns Quick Reference Guide. We encourage attendees to keep your ACH Rules book handy. You can get a copy from your financial institution, a regional payments association in your area, or order one from www.nacha.org.

Webinar Series:

Learning Objectives:

• Contrast the benefits and challenges of pre-notifications
• Identify the types of ACH returns a business can receive and what their compliance obligations are for each return type
• Examine the entry reversal process
• Locate appropriate ACH Rules references for each subject in the ACH Rules book

Areas Covered in the Webinar:

• Pre-notifications
• What is a pre-notification and why are they used
• Timing of pre-notifications
• What a pre-notification can tell a business
• The dos and don’ts of pre-notes
• Returns
• Identify types of returns a business can receive
• What each return type means
• Isolate when / if remedy is available through the ACH network or if you must collect outside of the network
• Types of returns that require a new authorization before you can attempt to collect through the ACH network
• Limits and timeframes
• 2016 New ACH Rules regarding returns
• Reversals
• When you can initiate a reversal
• Reversal requirements
• The reversal process
• Risks
• When reversals fail

Who Will Benefit:

• Financial Institution Executives and Professionals
• Banking Operations Managers and Staff
• Treasury Management
• AAPs (Accredited ACH Professionals)
• Payroll Processors
• Company /Business Owners (Originators)
• Banking Managers/ Supervisors
• Third-Party Service Providers and Third-Party Senders
• Audit and Compliance Personnel / Risk Managers
• Professionals from Financial Institutions
• Treasury Management
• Any business that currently uses ACH and wants to expand their knowledge
• Businesses who plan to expand their use of ACH and want to explore transaction options
• Businesses exploring ACH for the first time

Instructor Profile:

Rayleen M. Pirnie, AAP, is CEO and founder, RP Payments Risk Consulting Services, LLC, based in Missouri. She is a nationally recognized payments risk and fraud expert. Her programs educate financial institutions and businesses on topics ranging from payments fraud to information security. She is the author of several payments risk and fraud blogs geared toward helping organizations recognize threats and protect themselves from loss.

With her avid interest in risk management, she has supported many notable organizations over the years. She is a member of the International Association of Financial Crimes Investigators, supporting their training programs since 1998. She sat on NACHA’s Risk Management Advisory group for two terms, and assisted with FSISAC’s first CAPP exercise.

For 16 years, Ms. Pirnie has spoken at national and regional conferences. Recent events include NACHA’s Payments Conference, the American Bankers Association Risk Management Forum, The Security Matters Annual Conference at Murray State University, the Risk Management Association, and the Federal Reserve Bank of Kansas City Risk Management Conference. She holds a Bachelor’s of Science in Criminal Justice Administration and is an Accredited ACH Professional (AAP).

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