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#1437873 - 09/01/10 09:05 PM ACH Audit Questions
Black & Gold Offline
Junior Member
Black & Gold
Joined: Aug 2008
Posts: 35
Dark Side of the Moon
I'm curious as to what others do at their financial institution to meet the following ACH Audit requirements:

1) How are you confirming your bank is using R38 (Stop Payment on Source Document) and R52 (Stop Payment on Item) properly and how are you identifying this vs. just using R08 (payment stopped)? (RDFI) Section 8.3 J, second paragraph - Verify that the RDFI uses Return Reason Codes R38 (Stop Payment on Source Document) and R52 (Stop Payment on Item) properly. Verify that, for each RCK entry for which a stop payment has been placed on the item to which the RCK entry relates and for each ARC or BOC entry for which a stop payment order has been placed on the source document to which the ARC or BOC entry relates, the adjustment entry is received by the RDFI's ACH Operator by its deposit deadline for the adjustment entry to be made available to the ODFI no later than the opening of business on the banking day following the sixtieth calendar day following the Settlement Date of the original entry. (Article Eight, Subsection 8.7.3 and 8.7.4; Appendix Five)

2) How is your bank monitoring Originator entries relative to exposure limits across multiple settlement dates? (ODFI) Section 8.4 C – Verify that…for entries initiated by these Originators or Third-Party Senders to be monitored relative to the exposure limits across multiple settlement dates. (Article Two, Subsection 2.1.11)

Any input would be greatly appreciated! Thanks in advance.
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#1437920 - 09/02/10 10:38 AM Re: ACH Audit Questions Black & Gold
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,310
Galveston, TX
1. Review your returns and return processes.

2. Review your monitoring processes to ensure it captures all exposure dates.

I guess I am not quite sure what you are asking?
Last edited by rlcarey; 09/02/10 10:38 AM.
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#1438447 - 09/02/10 06:45 PM Re: ACH Audit Questions rlcarey
Black & Gold Offline
Junior Member
Black & Gold
Joined: Aug 2008
Posts: 35
Dark Side of the Moon
For question number two: For example, a bank is not monitoring Originator entries relative to exposure limits across multiple settlement dates. Are there any suggestions on how this data can be captured and monitored, and/or how are other banks monitoring this information? I hope that clarifies the original question, thanks.
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