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Alive and well, but reported deceased

Question: 
We received a Notice of Reclamation for a customer who we know for certain is actually still alive. The reclamation is for $1,800. What do we do?
Answer: 

Return the Notice of Reclamation as soon as possible (Green Book requires within 60 days, but the sooner the better) noting that the beneficiary is still alive. Also have the customer contact the appropriate agency immediately. These actions should stop the reclamation process.
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Learn more about Rayleen Pirnie webinar
Advanced ACH: Death Notification Entries and Reclamations: A Banks Responsibilities

First published on 03/10/2019

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