ACH Origination and Same Day Entries
Recorded: February 28, 2018 - $345 for the CD-Rom and Handouts
Wednesday, February 28, 2018
1:30 pm – 3:30 pm CT
Recommended for 2.5 CE Credits
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
Who Should Attend:
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.
Mary Kate Cole, AAP, CAE, principal of MK Cole Consulting, has nearly two decades of bank operations experience. Kate is an experienced ACH Auditor as well as speaker on payments related topics. She was VP of the Upper Midwest ACH Association for over 15 years. At that time, she was responsible for member education, ACH Audits and problem solving as well as ACH Development projects. Kate has been active in several National ACH Association Rules Work Groups over her career. She is a popular speaker at both local and national conferences on electronic payments related topics.