Communication of Rules to your ACH Originators

51 Pages·2017·3.23 MB·English

Communication of Rules to your
ACH Originators
Presented by Laura Nelson, AAP NCP
Auditor/Trainer
Audio
Handouts
Questions
Presented by
PAR/WACHA-The Premier Payments Resource
Laura Nelson, AAP, NCP
Education Specialist / Auditor
262-345-1245 or 800-453-1843
www.wacha.org
[email protected]
2017
Disclaimer
•  WACHA, through its Direct Membership in NACHA, is a specially recognized and licensed
provider of ACH education, publications and support.
•  Regional Payments Associations are directly engaged in the NACHA rulemaking process
and Accredited ACH Professional (AAP) program.
•  NACHA owns the copyright for the NACHA Operating Rules & Guidelines.
•  The Accredited ACH Professional (AAP) is a service mark of NACHA.
•  This material is derived from collaborative work product developed by NACHA ─ The
Electronic Payments Association and its member Regional Payments Associations, and is
not intended to provide any warranties or legal advice, and is intended for educational
purposes only.
•  This material is not intended to provide any warranties or legal advice, and is intended for
educational purposes only.
•  This document could include technical inaccuracies or typographical
errors and individual users are responsible for verifying any information contained herein.
•  No part of this material may be used without the prior written permission of WACHA/PAR

© 2017 PAR/WACHA All rights reserved
Originating Depository
Financial Institution – ODFI
The ODFI holds all responsibility for entries transmitted
into the ACH network that contain it’s RTN in the
ODFI ID Field
5
Originator
Any individual, business, or other entity that
initiates entries into the ACH network
6
Third Party Sender
— Is not an Originator, however has authorized an
ODFI to transmit ACH entries to effect payment
between the Originator and Receiver
— Acts as intermediary between the Originator and
the ODFI, however there is no contractual
agreement between the Originator and the ODFI
— Required to comply with the NACHA Operating
Rules as if they are Originators with respect to the
Origination Agreements
7
Third Party Sender Relationship
Grocery
Bike shop
w i t h o r i g i n a t o r s
m e n t s
N o a g r e e
Church
ODFI 3rd Party Sender Payroll
Agreement Dry
Company
Cleaner
3rd Party
Sender
Day Care
So What Exactly do the Rules Require of
Originators?

9
Binding Agreements
— An agreement must be executed with each
company for whom the ODFI originates
entries for, binding them to the ACH Rules
— Verify compliance with OFAC-enforced
sanctions
— Third Party Sender Agreement
10