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Stop Payments vs. Unauthorized Entries - Compliance with the Nacha Operating Rules
- Define the rules surrounding Stop Payments
- Identify difference with rules between consumer/non-consumer Stop Payment
- 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
Overview of the webinar
As an operations or front-line person, each day you struggle with the question – “When do I use a Stop Pay form and when do I need a Written Statement of Unauthorized Debit (WSUD)?” In the back room, processing these types of ACH transactions brings up the questions - “what is the Return Reason code, What is the timeframe to do a specific type of Return, and what documents do I need BEFORE processing this Entry?” This is YOUR session!
The trainer in this session will provide examples of when to use which form: Stop Payment form OR WSUD (Written Statement of Unauthorized Debit) and why, plus tying this information back to what the NACHA Operating Rules to ensure you are in compliance (exactly what your obligations and responsibilities are) each time you help your account holder with their request.
Included in this session will be details on the difference between using R10 and R11 when returning an Entry as unauthorized in the ACH network.
When to use a Stop Pay form and when to use a Written Statement of Unauthorized Debit (WSUD) is an ongoing issue, when processing ACH Entries based on a request from your account holder.
The trainer will provide scenario examples of your account holder saying they want you to stop a payment, or they revoked it – why is their account being debited or they never authorized a payment that is already posted to their account.
Who should attend?
- 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
Why should you attend?
The exception processes involving Stop Payments and Unauthorized Entries present challenges every day. As a participant in the ACH network you NEED to be aware of the differences and the Rules surrounding processing these payments while remaining in compliance with the Nacha Operating Rules.
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!
Faculty - Ms.Donna Olheiser
Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ experience. She has designed and facilitated over 150 training sessions each year with her expertise being the rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).
Ms. Olheiser is also an experienced project manager managing education programs for organizations per their requests on processing electronic payments while developing personalized training programs for financial institutions. She has over 23 years of experience in the financial services industry which includes 9 years’ experience 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, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004).
Her extensive knowledge, enthusiasm, and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Ms. Olheiser’s ability to engage the learner through the entire training event helps the adult learner apply what they’ve learned during and after each training session.