An everyday operational resource for ACH information, this easy-to-use guide is updated with the very latest information, including Rules compliance and the special handling of IAT entries. The guide provides RDFI responsibilities and obligations outlined in an easy-to-reference format. Return Reason Codes, Notification of Change Codes and an ACH Terms Glossary are included. Financial Institutions have found it to be a valuable education tool when training new operations employees. Updates have been made to the Guide to ensure ACH users understand the update R17 Return Reason Code for Questionable Entries.
NACHA rules require every ACH payment entering or exiting the United States to be identified and formatted as an International ACH Transaction (IAT) and EACH transaction must be reviewed for OFAC compliance. Every financial institution needs to understand how it is impacted by the new NACHA rule. Penalties for non-compliance with OFAC's regulations can be severe.
This publication includes all IAT changes to the NACHA Operating Rules since 2009, mapping for Identification of Additional Parties in For-Further-Credit/Debit-To Model, OFAC compliance and responsibilities of financial institutions and Gateways.
Explores developments made possible by the advent of Same Day ACH. The publication delves into new product and service opportunities afforded FIs with Same Day ACH, as well as detailing steps to implementation and preparedness on an operational front.