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July 23
Opening Accounts for Marijuana Businesses: CIP, CDD, Risk and Monitoring
Deborah Crawford

July 29
W-9, W-8BEN and W-8 BENE: IRS issues new forms and new rules;
Deborah Crawford

July 31
ACH Security Framework Rule - Small Rule, Big Implications;
Rayleen Pirnie

August 6
Part I
Flood Insurance: Requirements and Best Practices
A Two-Part Companion Webinar Series;
David Dickinson and Jerod Moyer

August 12
A to Z of Reg E;
Andy Zavoina



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.

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

Registered: 10/27/00
Posts: 30040
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

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