Stop Payments vs Unauthorized Entries – Compliance with the Nacha Operating Rules

Why Should You Attend:

Recent “minor Rules changes” made Stop Payments different in the Rules with the language used and what happens with Stop Payments due to Meaningful Modernization. Customer service, frontline and operations staff struggle each day with the question – “What does my account holder want me to do…Stop this payment, return it, they revoked it, -- what are my next steps?” What about Unauthorized Entries – Discussion on the difference between R10 and R11 will be included.

Do you often wonder when to use a Stop Pay form and when to use a Written Statement of Unauthorized Debit (WSUD)? This is YOUR session!

• Recent UPDATES to the Rules indicate how Meaningful Modernization and subsequent Entries fit into this compliance requirement.
• Updates to the Rules for using Unauthorized Return Reason Code R11 – changes this process

The trainer will provide scenario examples of your account holder saying they want you to stop a payment, or they revoked it – why is their account being debited or they never authorized a payment that is already posted to their account. The Nacha Operating Rules have specifics for you to follow to be sure you are complying each time you help your account holder with their request(s).

• Determine the difference with Stop Payment for business accounts.
• Help identify what form to use and in which situation.
• What questions and conversations should be taking place between the account holder and the customer service or frontline staff working with them?
• Key points illustrated in the program in the form of case studies will assist customer service and front-line staff as well as identify details for operations staff.

Areas Covered in the Webinar:

• Define the rules surrounding Stop Payments
• What’s changed with Meaningful Modernization and Stop Payments
• Identify the difference in the rules between a consumer and non-consumer Stop Payment
• What’s changed with non-consumer Stop Payment timeframe
• List tips that will help customer service and frontline staff ensure they are asking the right questions of the account holder
• Outline what an unauthorized transaction is and when to use a Written Statement of Unauthorized Debit (WSUD)
• Review timeframes for Stop Payments and Unauthorized Payments
• Define the NEW R11 Return Reason Code and the difference between R11 and R10
• Illustrate what constitutes an entry to be returned as Authorization Revoked vs. Stop Payment vs. Unauthorized
• Describe using scenarios – the what, when and how of Stop Payments and Returning Unauthorized Entries

Who Will Benefit:

• Bank operations staff
• New employees in the payments industry
• Bank managers and payment professionals
• CEO’s and CFO’s
• Risk, Compliance and Audit personnel
• Aspiring AAP’s and current AAP’s for AAP CE Credits

Donna K Olheiser
VP of Education, Dynamic Mastership

Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She has over 24 years of experience in the financial services industry which includes 9 years' experience as the education service director at a Regional Payments Association (RPA), where she managed and facilitated the entire education program for nearly 800 financial institution members. Prior to that, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation.

She has designed and facilitated over 100 training sessions each year with her expertise being the rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate and deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).

Her extensive knowledge, enthusiasm and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to life day-to-day ACH processing. Her ability to engage the learner through the entire training event helps the adult learner apply what they've learned during each training session.

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