Communication of Rules to your ACH Originators PDF
Preview Communication of Rules to your ACH Originators
Communication of Rules to your ACH Originators Presented by Laura Nelson, AAP NCP Auditor/Trainer Audio Handouts Questions Presented by PAR/WACHA-The Premier Payments Resource Laura Nelson, AAP, NCP Education Specialist / Auditor 262-345-1245 or 800-453-1843 www.wacha.org [email protected] 2017 Disclaimer • WACHA, through its Direct Membership in NACHA, is a specially recognized and licensed provider of ACH education, publications and support. • Regional Payments Associations are directly engaged in the NACHA rulemaking process and Accredited ACH Professional (AAP) program. • NACHA owns the copyright for the NACHA Operating Rules & Guidelines. • The Accredited ACH Professional (AAP) is a service mark of NACHA. • This material is derived from collaborative work product developed by NACHA ─ The Electronic Payments Association and its member Regional Payments Associations, and is not intended to provide any warranties or legal advice, and is intended for educational purposes only. • This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only. • This document could include technical inaccuracies or typographical errors and individual users are responsible for verifying any information contained herein. • No part of this material may be used without the prior written permission of WACHA/PAR © 2017 PAR/WACHA All rights reserved Originating Depository Financial Institution – ODFI The ODFI holds all responsibility for entries transmitted into the ACH network that contain it’s RTN in the ODFI ID Field 5 Originator Any individual, business, or other entity that initiates entries into the ACH network 6 Third Party Sender Is not an Originator, however has authorized an ODFI to transmit ACH entries to effect payment between the Originator and Receiver Acts as intermediary between the Originator and the ODFI, however there is no contractual agreement between the Originator and the ODFI Required to comply with the NACHA Operating Rules as if they are Originators with respect to the Origination Agreements 7 Third Party Sender Relationship Grocery Bike shop w i t h o r i g i n a t o r s m e n t s N o a g r e e Church ODFI 3rd Party Sender Payroll Agreement Dry Company Cleaner 3rd Party Sender Day Care So What Exactly do the Rules Require of Originators? 9 Binding Agreements An agreement must be executed with each company for whom the ODFI originates entries for, binding them to the ACH Rules Verify compliance with OFAC-enforced sanctions Third Party Sender Agreement 10
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