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#810515 - 09/06/07 06:52 PM Advising ACH Originators of their Responsibilities
bls Offline
100 Club
Joined: Oct 2005
Posts: 138
Alabama
One more ACH question. In Appendix 8, Section 8.3 "Audit Requirement for ODFI's" of the 2007 Operating Rules, Item K states: "Ensure that Originators or Third-Party Senders are kept informed of and are in compliance with their obligations on a continuing basis", and then lists 19 requirements. How are other banks accomplishing this? Is it as simple as ordering the corporate rules version and providing that to our originating customers and their service providers? We only have a few customers that are originating their payroll via direct deposit, but the rules do not have a threshhold level. Any help will be appreciated.

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Audit
#811219 - 09/07/07 03:50 PM Re: Advising ACH Originators of their Responsibilities bls
glickstr Offline
Member
Joined: Jan 2005
Posts: 55
We provide a copy of the rules book annually to our originators. We also send notification of any rule changes mid-year when applicable.

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#811954 - 09/10/07 03:27 AM Re: Advising ACH Originators of their Responsibilities glickstr
Countess Kiwi Offline
Diamond Poster
Joined: Jun 2002
Posts: 1,815
Minnesota
We do the same as glickstr.
_________________________
Do what you can, with what you have, where you are.
~Theodore Roosevelt~

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#812002 - 09/10/07 01:18 PM Re: Advising ACH Originators of their Responsibilities Countess Kiwi
MidMOAuditor Offline
100 Club
Joined: Aug 2007
Posts: 105
Missouri
I would do as above and also have them sign a receipt so that when you have your annual ACH audit you have documentation to show that you have fulfilled this.

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