Does Section 4-403 of the UCC apply to ACH? I have read and read the NACHA Rule for this and Reg E. They both say that you may.
Does a bank 'have' to have an ACH Risk Assessment? Nacha Appendix Eight lists areas that should be audited, and suggests other areas internal audit should look at, including the ACH Risk Assessment; but doesn't clearly state whether or not one is required to have.
We submitted an ACH PPD on 6/23/11. We received it back on 6/28/11 with Return Reason Code R01. Is this considered a late return?
A customer sends an ARC transaction for the incorrect dollar amount. Are there any other means to pursue an adjustment other than having the Receiver/RDFI return the transaction as unauthorized or improper?
Can we place a hold on an ACH deposit?
Will the new NACHA stop payment rule have any effect on Reg E?
Are financial institutions required to send provisional and/or final credit notices to customers with ACH disputes under Regulation E? I'm asking because I have noticed that several banks are merely just crediting the customer's account without sending any type of notice to the customer. Also, when a customer disputes an ACH transaction under Regulation E, is the customer required to fill out an Affidavit Under Penalty of Perjury or is just a letter from the customer okay to dispute the ACH transaction?
I know this is a basic question but can someone explain stop payments that are subject to Reg E?
We have a customer that has had debit card fraud occurring on his account. He just now caught on to it, but it has been happening since 10/2008. What is his liability? How far can we go back for charge backs?
A customer is claiming unauthorized debits to her account. She said she just realized this, but she claims the first occurance was in May. The $200 ACH debits occured every two weeks for several months. The debits were payments on a bill she owes. She said she authorized $50 a month. I realized I only have to reimburse for the debits occuring 60 days after the statement cycle in which the error occured. So far, I am not having much luck with the third party on getting proof our customer authorized the $200. It is too late to return the ACH's for unathorized. Our customer has benifited from these ACH debits in that her outstanding debt to this company has been reduced. Can we deny that claim based on the fact the she has benefited?