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Notification-Returning Large $ Electronic Charges

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According to 12 CFR 229.33 (a) a paying bank must notify the depositary bank for returning of large dollar checks; does this also apply to returning large dollar electronic charges?

If "electronic charges" refers to ACH debits, the answer is no. There's no notice requirement for such returns.

First published on 9/19/11

First published on 09/19/2011

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Filed under technology as: 

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