ACH Reclamations & Garnishments
Are ACH reclamations and garnishments sticky wickets? Do you know what to do when an accountholder dies? Should post-death payments be returned? If so, when? What are the guidelines for handling garnishments? This webinar will unearth the answers to these questions and more!
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Compare your institution’s liability regarding reclamations under the ACH rules and 31 CFR Part 210
- Understand the financial impact of signing a Master Agreement
- Explain the responsibilities associated with learning of an accountholder’s death
- Given a reclamation scenario, evaluate the type of payment received and appropriately apply the ACH rules or 31 CFR Part 210
- Determine the appropriate actions in a garnishment scenario under the Garnishment of Accounts Containing Federal Benefit Payments guidelines
WEBINAR DETAILS
What must be done when you learn of an accountholder’s death? Are you responsible for acting upon a word-of-mouth notification? Are you required to return post-death payments, or can you wait for a reclamation? Join us to find the answers to these questions and compare your financial institution’s liability related to post-death benefit payments under the ACH rules and 31 CFR Part 210. You’ll learn your liability and how to limit it according to what type of payment is received. The impact of signing a Master Agreement and which payments are exempt from garnishment will also be covered.
WHO SHOULD ATTEND?
This informative session is ideal for ACH operations staff, compliance staff, auditors, and those individuals with the AAP and APRP accreditation.
