ACH Specialist Series: ACH Warranties & Indemnities
Do you know the difference between an ACH warranty and an indemnity? What happens if you can’ t settle a dispute with another financial institution? This webinar will answer these questions, plus address ACH authorizations, NOCs, and situations where checks are converted to ACH debits. Don’t miss this practical program.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Distinguish between a warranty and an indemnity within the scope of ACH payment processing
- Explain what the Originating Depository Financial Institution’s (ODFI) authorization warranty is and how a Receiving Depository Financial Institution (RDFI) can use the breach of authorization warranty claim process to attempt to recover disputed funds
- Understand the warranties made by an RDFI when transmitting a Notification of Change and the repercussions when an operational error results in an erroneous Notification of Change
- Detail the ODFI’s warranties when processing check conversion entries and describe how an RDFI can use the breach of warranty process to recover funds when a check has posted to a receiver’s account as both a physical check and a converted ACH check entry
- Define what Nacha’s System of Fines is and describe how it can be used when ACH Network participants are not complying with the Nacha Operating Rules
WEBINAR DETAILS
Regardless of whether you are an ODFI, RDFI, or both, your institution makes warranties and indemnities to other ACH Network participants every day. This program will address what these are and the importance of understanding them. It will take a deep dive into ACH authorizations, Notifications of Change, and transactions where an eligible source document (i.e., check) is converted to an ACH debit. You’ll also learn what to do when you are unable to resolve a dispute with another financial institution regarding an asserted breach of warranty. This session is ideal for treasury management and ACH operations staff.
WHO SHOULD ATTEND?
This informative session is designed for payment operations professionals, including ACH operations specialists, ACH operations managers, treasury management specialists, treasury management managers, and others in similar payment operations roles.
