Returning Large ACH Items

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Question:

I need to know where to find the requirements on returning an ACH item over $2500. If it were a check, of course you contact the bank it is being returned to within the appropriate time frame under Reg CC. But, with ACH, I cannot find any guidelines.

Answer:

There are no specific requirements for ACH large item (over $2500) returns. Naturally, for an item to be returned that is NSF, you must follow the NACHA rules for returns (24 hrs of the item receipt). If the ACH item is unauthorized, you have up to sixty days from the date of notification and you must have a signed affidavit on file.

First published on BankersOnline.com 2/4/02