Click to return to BOL home page



April 24
BSA/AML Compliance: Writing the SAR Narrative
Ken Golliher

April 29
HSA Basics
Whitney Johnson

April 29
Required Training for Loan Originators
Mary Beth Guard and Jack Holzknecht

May 13
Overdraft Practices in Today's Regulatory Environment
John Burnett

May 14
Reg E Claims - Allocating Liability Correctly
Andy Zavoina

May 15
Managing Electronic Information - From A to Zettabyte
Fred Menge



Topic Options
#290070 - 12/16/04 03:55 PM XCK ACH Entries
Anonymous
Unregistered


I understand that the acceptance of (Destroyed Check) XCK ACH entries is voluntary...can anyone point me to that train of thought in the NACHA book. I want evidence to support that management should make a formal decision regarding the bank's take on XCK entries.

Top
Operations Compliance
#290071 - 12/16/04 04:18 PM Re: XCK ACH Entries
John Burnett Online
10K Club

Registered: 10/27/00
Posts: 29464
Loc: Cape Cod
SUBSECTION 2.7.6 Return of a Destroyed Check Entry

Notwithstanding anything in these rules to the contrary, an RDFI may return an XCK entry by transmitting a return entry to its ACH Operator by midnight of the sixtieth day following the Settlement Date of the XCK entry.

Page 7 of the Operating Rules
_________________________
John S Burnett
BankersOnline .com

Top


Moderator:  Andy Z, John Burnett, Ken_Pegasus