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July 29, 2015
How to Complete the Closing Disclosure
Jerod Moyer

August 5, 2015
HMDA – Beyond the Input
Patricia Cashman

August 11, 2015
ABCs of HSAs
Whitney Johnson

August 12, 2015
Part I: Flood Insurance - Everything You Need To Know (including June 2015 Rules)
David Dickinson and Jerod Moyer

August 13, 2015
Currency Transaction Report (CTR): Line-By-Line for Tellers
Deborah Crawford

August 18, 2015
Disaster Recovery Revisited: 5 Things You May Not Have Considered (for a while)
David Reed

August 20, 2015
Automated Monitoring Systems: Implementation to Validation
Brian Crow



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#1411448 - 07/02/10 12:50 PM ach pre funding - new one to me
whataday Online
Gold Star

Registered: 09/26/06
Posts: 399
Loc: Georgia
Can anyone tell me what ACH pre-funding is and are there disclosure requirements?

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Deposits and Payments
#1411497 - 07/02/10 01:33 PM Re: ach pre funding - new one to me [Re: whataday]
Georgia Plum
Unregistered


What it means to me is that you have an ACH originator that is sending out, for instance, payroll deposits. Before we will actually send the ACH file, we require that the 'funding' is in their account. The file might not actually settle until tomorrow, but we require 'pre-funding' (money in their account) today.

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#1411835 - 07/06/10 10:06 AM Re: ach pre funding - new one to me [Re: ]
new_shoes Offline
Junior Member

Registered: 03/16/10
Posts: 25
Loc: Massachusetts
We are thinking of implementing prefunding as well. Curious if banks that have it require all credit originators to prefund or just the originators that are more difficult to underwrite?

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#1411924 - 07/06/10 12:04 PM Re: ach pre funding - new one to me [Re: new_shoes]
HappyGilmore Online
10K Club

Registered: 06/11/04
Posts: 17695
Loc: somewhere over the rainbow
your interbank liability policy should address this...
_________________________
The head nurse spoke up, said leave this one alone...

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#1411945 - 07/06/10 12:43 PM Re: ach pre funding - new one to me [Re: new_shoes]
Kathleen B Online


10K Club

Registered: 12/27/00
Posts: 19191
Bank will require this when they feel the risk is to high to allow the ACH to go out without the funds in the bank. It is an underwriting decision and your ACH process should be modified to allow for this if you choose this option. It is not an unusual requirement.
_________________________
Kathleen Blanchard CRCM "Kaybee"
Lending/CRA/HMDA/Mapping/Consulting
www.kaybeescomplianceinsights.com

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