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Reversals and Your Role in Them

Description

Event Details*
Thursday, April 1, 2021
On-Demand; 1.2 AAP, APRP CEU Eligible

Learning Level: Intermediate


Event Registration**
Member Price:     $225.00
Non-Member Price:   $325.00

Session Description:

What recourse does an ODFI or Originator have when an erroneous file or duplicate Entry has been sent through the ACH Network? Should a financial institution allow Originators to originate reversals, or should it create reversals on behalf of its Originators? Reversals come with inherent risks, such as operational, credit, and compliance. This session will focus on the Rules surrounding reversing entries and files, including timing, formatting and Originator responsibilities.

Attendees will leave the session with an understanding of:

  1. The definitions of reversals and the difference between a File and Entry Reversal;
  2. Requirements for sending Reversals;
  3. Risks associated with Reversals;
  4. Alternatives to sending Reversals. 
Speaker:
Elyssa Morgan, Director, Membership, NEACH

Audience: 
  • ACH Origination
  • ACH Receiving
  • Operations/Deposit Operations
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*Please note that the access information will be sent to you in a separate email upon receipt of payment.  Access information and support are only provided during normal business hours.
** This event is part of the NEACH Education Club.  Members who join the Club save $75 off the cost of this event.


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