I want to make sure I'm explaining and understanding correctly.
Our customer, John Doe, gets a direct deposit from ABC Co. via ACH. When we receive the file, we notice that ABC Co does not have John's correct account number so we submit a NOC and process the transaction because we can determine the account number.
After we submit the NOC, do we have a responsibility to ensure that ABC Co makes the correction within the prescribed time frames? If they don't make the change, do we have to file a Report of Possible Rules Violation?
If Banks do have this responsibility, how do most banks track this kind of information?
Any help would be appreciated.