ACH Origination: Knowing Your Responsibilities
Whether you are just starting your ACH Origination program or have numerous customers, you need to understand your responsibilities. Join us and learn how to decipher the SEC Codes, how the products work and what your warranties are.
Whether you are just starting your ACH Origination program or have numerous customers, you need to understand your responsibilities. The ACH Rules were written so the Originating Depository Financial Institution (ODFI) carried the origination responsibilities and warranties. As the ODFI, you pass those on to 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 dive into the Standard Entry Class (SEC) Codes. We’ll look at the authorization requirements, format and specific warranties for each of the SEC Codes.
Join us and learn how to decipher the SEC codes, how the products work and what your warranties are.
Attend this class and you will examine:
- ACH Rule warranties for origination
- Specific warranties for each SEC Code
- ACH authorizations by SEC Code
- ACH Formats by SEC Code
This course is designed for compliance personnel, auditors, operations personnel, senior management and all others interested in gaining knowledge on ACH Origination and SEC codes.
Mary Kate Cole, AAP, CAE, principal of MK Cole Consulting, has nearly two decades of bank operations experience. Currently, Kate is working with Management HQ as an Account Coordinator and Office Manager. As Vice President of the Upper Midwest ACH Association, she was responsible for member education and problem solving as well as ACH development projects. Kate has been active in several National ACH Association Rules Work Groups over her career. She is a popular speaker at both local and national conferences on electronic payments related topics.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2 hours/session
Member price: $275.00 | Non member price $550.00
Member price: $295.00 | Non member price $560.00
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1516 Xavier St., Ste 500, Denver, CO 80204
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