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Rules Review Guide for Originators


Publisher: UMACHA
Year: 2018

The ACH Risk Management & Assessment NACHA Rule Enhancement requires ODFIs to document risk management practices when it comes to ‘knowing the ACH customer' and understand the nature of the transactions that are being originated. It also requires additional provisions be added to the ODFI/ACH Originator agreement including the right to audit the originating customer. Are you a financial institution looking for a tool to help you perform an ACH audit of your originating customers or, are you, an originating company looking for a way to verify you are abiding by all the ACH Rules? UMACHA created a guide that provides an easy to follow form that should be filled out by the originating company which asks specific questions regarding the common ACH products used for ACH origination such as; WEB, TEL, ARC, BOC, POP, RCK, PPD credits, PPD debits, CCD and CTX entries. This form also provides specific information regarding the special ACH Rules for each product which can be used as a checklist to make sure originating companies are complying with all the requirements. Sample PPD written authorization forms and ACH check conversion authorization language are included in addition to a list of ineligible items for check conversion, a list of all ACH Return/NOC codes and a glossary of ACH terms. 

Stock#: 27000  

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