I have a business customer who placed a stop payment on a series of checks that had been stolen. (This was after we advised to close the account and they refused).
One of the checks was converted to an ARC transaction.
1)I didn't think business checks could be converted because of Reg E
2)How should I return the ACH? I could do an R38-Stop Payment on Source Document or R29-Corporate Customer Advises Not Authorized.
My opinions are definately my own. I could be wrong. But I don't think so.