According to the NACHA Operating Rules, the ODFI takes on all the warranties and responsibilities for each and every ACH Entry they transmit into the network. What does this mean? What about the Originator? What is their Role? Do they have responsibilities and obligations?

Direct Deposit and Direct Payment via ACH are the two most common forms of ACH origination Entries; then there are your non-consumer or corporate payments, followed by your check conversion and other types of transactions such as WEB and TEL.

Originators and ODFI’s NEED agreements in place to identify the responsibilities of each party when ACH transactions are submitted. Exposure limits need to be set and processing schedules determined. Same Day ACH – Do you have any Originators who are interested in sending and updated procedures accordingly?

Course Objective:

This 90-minute information-filled session will include the elements of the ACH Originator-ODFI agreement, why they are needed and the purpose they serve. Included will be identifying Exposure Limits and ensuring that each Originator is in compliance with the NACHA Operating Rules when it comes to the elements within that agreement plus covering all authorization requirements. 

What are the Originator’s obligations and the warranties that the ODFI will carry when they transmit ACH Entries into the network? How Returns, Notifications of Change and Prenotes handled are – are your procedures’ up to date?

This session will identify how to remain in compliance with the NACHA Operating Rules during the transmission of ACH Entries. A “must-attend” session!

Course Outline:

• Minimum requirements in the Originator – ODFI agreement
• Tips on setting exposure limits
• Obligations of the Originator
• Warranties of the ODFI
• Prenote processing and the Originator/ODFI
• NOC (COR Entry) processing-listing timeframes for each step

What You Get:

• Training Materials
• Live
• Participation Certificate
• Access to Signup Community (Optional)
• Reward Points

Who Will Benefit:

• Financial Institution professionals (new/current operations staff)
• Banking Operations managers and staff
• ACH Managers
• Electronic Payments Professionals
• AAPs – keeping up with changes in ACH Rules and wanting to earn AAP Continuing Education Credits
• ACH Operations Staff
• Compliance and Risk professionals
• Treasury Management professionals
• Aspiring and current AAP’s (Accredited ACH Professionals)
• Company / Business Owners (Originators)
• Banking Managers/ Supervisors
• Audit and Compliance Personnel / Risk Managers