Same Day debits are here NOW! Focus being on the debits, and the impact this will have on ACH Processing - for example, when a consumer pays their credit card bill online with the card issuer, uses an "ACH Card" (a card issued by a 3rd party and tied to a consumer checking account; i.e. Target Debit Card), or authorizes a debit to their account. The card-holder is accustomed to "next-day" debits - but NOW, it can be the Same Day! This is Phase 2 (September 2017) depending on the time of day when I use my ACH Card, and when the company processes the payments, this debit could hit my account today (Same Day)? How do we educate the Receiver? - To know their account transactions could be changing!
What if Receiver's account is negative due to a Same Day Debit? The RDFI returning the entry - what's their process, to send in an earlier window on the Same Day as settlement, for earlier settlement?
Why should you Attend?
This session will outline different transactions affected by Phase 2, ex - Debit origination, Bill Pay, ACH Cards, and on-line debit payments. It will also explain how the Originator and Receiver of these types of debit payments will be affected.
This 90-minute session will focus on how when debits are added, and the impact this may have on ACH Processing - for the Originator and the Receiver. (The billing game – online or phone debit payment authorizations, and ACH Cards) - The Originator can collect their money same day with the Same Day fee for each Entry. On the Receiver side, If I authorize a payment today, or use the ACH card today, the earliest it can debit my account is tomorrow, debits are next day...Fast Forward to Phase 2 (September 2017) depending on timing, and when the company processes the payments, this debit could hit my account today (Same Day)?
This process changes the way Originators will process debits, can send Same Day and receive the money sooner and the Receiver, their account could be debited the Same Day they authorize the payment. As the RDFI are you prepared to answer questions from account holders due to overdrafts that may result from Same Day debits? This session will use examples and scenarios to help identify how Same Day debits will change the way payments are originated, received and returned.
Who will Benefit?
This webcast will be of a valuable assistance to the below audience.
NACHA data, Same Day ACH Debits, Same-day Direct Deposits, NACHA, ACH Network, Bill Pay, ACH Cards, ACH Processing, ACH, RDFI, AAP's, emergency payrolls, Same-day payrolls, Expedited bill payments, Debit Returns, ACH Transactions, ACH Form, ACH Return Process, Unauthorized Entries
Donnas extensive knowledge, enthusiasm and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Donna's ability to engage the learner through the entire training event
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