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ACH Origination and Same Day Entries, Webinar
March 5 @ 10:00 am - 12:00 pm CST
One of the important factors about ACH Origination is that any sized financial institution can offer the product. But it is a product and you have to know what you are offering, how it works, who you’re offering it to and how to manage your risk. Same Day ACH is another origination product within ACH that you can offer.
The ACH Rules were written so that the Originating Depository Financial Institution (ODFI) carries the origination responsibilities and warranties. As the ODFI, you pass those onto your Originators through a contract. You are still, however, ultimately responsible and you must know the warranties.
In this session, we are going to review the general origination warranties and then review the most used Standard Entry Class (SEC) Codes. We'll look at the authorization requirements, format and specific warranties for those SEC Codes. We will also discuss the new Same Day ACH and how your origination business may change with this option.