EDUCATION
New NACHA Rule Amendments
The latest Rules amendments become effective on March 15, 2013:
• ODFI Return Rate Reporting— This amendment reduces the ODFI Return Rate Reporting period from 60 days to 30 days for reducing return rates below the return rate threshold before initiation of a Rules enforcement proceeding.
• IAT Modifications and Refinements— This amendment affects the Return Reason Code and improves risk management.
• Data Passing— This amendment prohibits sharing of certain customer information by Originators, Third-Party Service Providers and ODFIs for the purpose of initiating debit Entries that are not covered by the original authorization.
• Incomplete Transactions— This amendment allows the return of a debit Entry to a Consumer Account within 60 days of the Settlement Date for an“ Incomplete Transaction,” which is defined as a transaction for which a Third-Party Sender debits a consumer’ s account to collect funds, but does not complete the corresponding payment to the party to which payment is owed.
Treasury Management
Training Modules
SWACHA is pleased to announce the release of three small business eLearning modules, designed to help financial institutions educate small business clients and their staff who engage them. The modules, were developed in collaboration with NACHA Direct Members and are intended to augment a financial institution’ s existing education and outreach tools.
The training module topics take approximately 50 minutes to complete and the topics include:
Module 1: ACH Origination: Getting Started Module 2: Payments Fraud Module 3: Treasury Management in an Electronic World
These self-paced and interactive modules, which include quizzes to progressively test the user’ s understanding, introduce basic concepts, sound business practices, practical uses, benefits and key considerations.
Each module may be purchased individually and ACH professionals can earn 1 AAP education credit per module.
The modules come in CD format and are priced: |
1 module |
Member: $ 150.00 |
Non-Member: $ 250 |
2 modules |
Member: $ 300.00 |
Non-Member: $ 500 |
3 modules |
Member: $ 375.00 |
Non-Member: $ 685 |
Bulk pricing is available upon request. Call Kathy Colvard at 1-800-475-0585 for more details.
The Mark of Excellence Signifies that SWACHA-The Electronic Payments Resource ®, through its Direct Membership in NACHA, is a specially recognized and licensed provider of ACH education, publications and support.
1999 Bryan, Suite 3600, Dallas, TX 75201 • Tel: 214-438-4585 Fax: 214-438-4515
Mission Statement To be the resource of choice for providing education, training, representation, and knowledge regarding electronic payments and payments system risks. We are dedicated to anticipating and meeting the needs of our constituents.
SWACHA-The Electronic Payments Resource ® 1999 Bryan, Suite 3600, Dallas, Texas 75201
General Inquiries 214.438.4585
SWACHA FAX Line 214.438.4515
SWACHA Website www. swacha. org
SWACHA Services Website www. swachaservices. com
The Payments Answerline™ An Exclusive Member Benefit! 800.475.0585 info @ swacha. org
Risk Management 800.475.0585 laas @ swacha. org
Training Inquiries / Registration 800.475.0585 educationdept @ swacha. org
Resource or Publication Inquiries 800.475.0585 publications @ swacha. org
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© 2013 SWACHA-The Electronic Payments Resource ®. All rights reserved. 13-0149