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Stop on the TEL WEB Debit Stream

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Question: 
When a customer writes a check and then wishes to place a stop payment order on it, if the check is erroneously converted to TEL transaction, the ODFI does not know this is an error and processes the transaction. Is a stop payment valid on TEL and WEB transactions that may be erroneous or even fraudulent?
Answer: 

NACHA rules provide for stop payments on WEB and TEL transactions. Because WEB and TEL transaction types don't require the inclusion of a check number, it's possible that the ACH item will not get "caught" by a bank's stop payment filter. If that happens, NACHA rules permit the transaction to be returned after the fact, within 60 days.

First published on BankersOnline.com 9/6/04

First published on 09/06/2004

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