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