Stop Payments vs Unauthorized Entries - Compliance with the Nacha Operating Rule
Donna K Olheiser Overview:
The ACH fundamentals aren’t so simple anymore. With Same Day ACH, there are options. In this training session, we will help attendees identify what is ACH network and examples of ACH electronic payments. The details for each of the five basic participants and the role they play during an ACH transaction will be discussed. Along with an extensive demonstration of the settlement process for both the “Legacy ACH” and “Same Day ACH” processes, the trainer will outline the differences.
We will also cover the different types of ACH payments including “the what” determines a debit and a credit ACH transaction. This is a must-attend session. The ACH Network is not the same old network - it’s changed, it’s new and improved! There are now options and new opportunities.
Why should you Attend:
The Nacha Operating Rules have specifics for you to follow to be sure you are complying each time you help your account holder with their request(s).
- Determine the difference with Stop Payment for business accounts
- Help identify what form to use and in which situation
- What questions and conversations should be taking place between the account holder and the customer service or frontline staff working with them?
- Key points illustrated in the program in the form of case studies will assist customer service and front-line staff as well as identify details for operations staff
- This 90-minute session will definitely make things more simplistic when processing unauthorized, authorization revoked and stop payments!
Areas Covered in the Session:
- Define the rules surrounding Stop Payments
- Identify the difference in the rules between a consumer and non-consumer Stop Payment
- What’s changed with non-consumer Stop Payment timeframe
- List tips that will help customer service and frontline staff ensure they are asking the right questions of the account holder
- Outline what an unauthorized transaction is and when to use a Written Statement of Unauthorized Debit (WSUD)
- Review timeframes for Stop Payments and Unauthorized Payments
- Define the NEW R11 Return Reason Code and the difference between R11 and R10
- Illustrate what constitutes an entry to be returned as Authorization Revoked vs. Stop Payment vs. Unauthorized
- Describe using scenarios - the what, when and how of Stop Payments and Returning Unauthorized Entries
Who Will Benefit:
- Bank Operations Staff
- New Employees in the Payments Industry
- Bank Managers and Payment Professionals
- CEO’s and CFO’s
- Risk, Compliance and Audit Personnel
- Aspiring AAP’s and Current AAP’s for AAP CE Credits
Speaker Profile
Donna K Olheiser founded Dynamic Mastership, LLC in December 2014 to utilize her 24+ years’ experience in the financial services industry, by sharing her passion for training financial institutions and organizations on the Rules and processes for electronic payments (with her specialty being ACH payments). She holds the Accredited ACH Professional (AAP) designation (achieved in 2004).
Donna’s experience before founding Dynamic Mastership, includes 9 years’ serving 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, Donna spent 14 years with the Federal Reserve Bank of Minneapolis in various departments, where she started her training career as the Training and Development Specialist in 2003.
Donna is a certified Master Trainer who continually uses her extensive knowledge, experience, enthusiasm, and passion for transferring payment processing details, while using the adult learning theory is remarkable! Her training style has helped many payment professionals remain consistently informed of the NEW and ever-changing NACHA Operating Rules and explaining how the Rules apply when performing daily operational tasks including complex return and exception processing. She incorporates scenarios and examples in her detailed training, so the Rules are easy to comprehend and apply to real-life day-to-day ACH processing. Donna’s ability to engage the learner through the entire training event helps the adult learner apply what they have learned during and after each training session.