For an ACH transaction we (RDFI) have received, we believe a third party made the payment to an account and we (as RDFI) would like to return it. May we return it using the return code R23? R23 description sounds as if the recipient account holder should return the transaction.
An ACH credit was incorrectly returned as NSF (R01). It was brought to our attention 5 days after it occurred by the member. What is our best way at getting the credit to be resubmitted (having the member work with the company, us working with the originator or ODFI, something else)?
Is a com-check that truckers use like a draft? Can they be returned outside of the 24 hours for unauthorized? We have one that is supposed to be returned to us, it was deposited on Jan 19 and still has not been returned.
We received a Fed adjustment for duplicate presentment (failure to secure) for an RDC item. The item was originally processed by our member RDC (blank endorsement) and paid in December 2017. The item was subsequently stolen from his home.
In January 2018 a second presentment was made via ATM and now includes a third party endorsement . The item was credited to the third party's account at the other financial institution of which the payee has no ownership.
Do I have any breach of warranty claim (presentment or transfer) against either the drawn on bank or the second presentment bank?
When you receive notice of a returned item and place a hold on the clients account are you required to provide the customer with a Hold Notice? Also, if the item ends up not being returned are you required to notify customer?
We have a returned Canadian check that is stamped Domicile Error. Can you please explain this to us?
A client has contacted us stating that a check written by them to a company has not been received by the company. We show the check cleared
August 26th, but there are no endorsements of any kind on the back of the check. Can we return this check due to missing endorsement?
We have a utility company that has had a couple of very stale dated check post to their account. Can these be returned to the Drawee bank as
"Stale Dated", after the midnight deadline? Just need confirmation.
Can a check that is returned "uncollected funds" and then returned again "NSF" be redeposited?
Is there a timeline for a check to be returned as a forgery or fraudulent? If so what would the reason code be?