Recording Date(s): 2023/2024

Cost in Education Club tokens: 15 tokens

Speaker(s): UMACHA's Education Team

Description: Our New ACH Operations Employee bundle includes 7.5 hours of education designed to help an employee new to ACH operations get off to a great start. This bundle will lay the groundwork by explaining the fundamentals, including a review of the history of the ACH Network, overview of common network participants, and important commonly used terms. The A-to-Z series, which includes Basics of an RDFI and Basics of an ODFI, will dive a bit deeper into fundamental concepts specific to the ACH functions performed by financial institutions in the capacity of an RDFI and ODFI, respectively. The ACH Return Reason Codes Explained digs into the return reason codes used by RDFIs to return received ACH transactions, including a review of which returns require additional documentation prior to processing a return. Finally, this bundle concludes with a review of the Green Book and its implications on how financial institutions process ACH transactions received from the federal government.

This bundle includes the following webinars:

•  Exploring the Fundamentals of the ACH Network – 90 min
  • Join us as we introduce the ACH Network by reviewing who uses ACH and how it is used, a brief history of how the network has progressed from 1968 to today, and who the primary participants are - including ODFIs, RDFIs, and Originators, and the roles they play. This session also includes a review of industry terms and concepts, a review of common ACH products (often referred to as Standard Entry Class Codes), and the legal framework that governs how ACH is processed.
• From A to Z: Basics of an ODFI – 90 min
  • Join us as we delve into the fundamental responsibilities of an Originating Depository Financial Institution (ODFI). This session explores concepts that are relevant to all ODFIs, including warranties made when originating Entries into the ACH Network, Reversal and Notification of Change obligations, the ACH return flow, and direct reporting requirements with Nacha. This session also introduces the concept of Third-Parties, including both Third-Party Senders and Nested Third-Party Senders.
• From A to Z: Basics of an RDFI – 90 min
  • Join us as we delve into the fundamental responsibilities of a Receiving Depository Financial Institution (RDFI). RDFIs play a critical role in the ACH Network by ensuring funds are posted to the accounts of their Receivers in accordance with the timing requirements set forth in the Nacha Operating Rules. During this session, we will explore the essential rights and responsibilities of each RDFI, including obligations related to exception processing and ACH disputes.
• ACH Return Reason Codes Explained – 90 min
  • With 70 different return reason codes utilized in the ACH Network, it can be challenging to stay on top of what the most appropriate return reason code is to use in a given situation. Which return reason codes require a Written Statement of Unauthorized Debit (“WSUD”)? How many days do we have to process a return? What about the return reason codes that have unusual time frames that don’t fall into the standard or extended return time frames? This session will answer all these questions and more, including an overview of dishonored returns, contested dishonored returns, and returns that are processed by the ACH Operator or Gateway.
• Breaking Down the Green Book and Federal Government ACH Payments – 90 min
  • The Bureau of the Fiscal Service issued revisions to the Green Book in 2023 that include significant changes to how financial institutions respond to reclamation notices. During this session, we break down the Green Book one chapter at a time, focusing on areas with the most operational impact. The session also includes discussion about the Automated Reclamation Processing System ("ARPS") and how that changes a financial institution's obligations when processing reclamations.

• ​Upon completion of the purchase, the purchaser will be immediately prompted to download a PDF or zip file.  Each PDF will contain a link to view the purchased webinar(s).  Access to the recorded webinar(s) is limited to 60 days following the purchase.
• UMACHA is required to collect Sales & Use tax, in addition to Municipal tax (city tax), on the services that are provided in the state of South Dakota, and recorded webinars in the state of Minnesota.