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Same Day ACH is HERE! Credits were Easy & Debits are Coming - What's Your Strategy to utilize Same Day Functionality to it's Potential?
- Identify the benefits of ACH debits in the Same Day environment
- Illustrate processes with debits and same day in scenarios
- Define the return process for the RDFI when debits are NSF (same day returns can be done – not mandatory)
- Describe how the Receiver can be affected and how to answer questions relating to debits in the same day space
- Outline targeted companies who may want to utilize the same day function and pay the 5.2 cent fee
Overview of the webinar
This 90-minute session will focus on how and when debits are added to the Same Day ACH functionality and the impact. As the ODFI, what Originators could you target to utilize this same day functionality for debt transactions to truly benefit from this feature?
For example, an "ACH Card" (card issued by a 3rd party and tied to a consumer checking account; i.e. Target Debit Card) is an ACH debit, when the card is used today, the earliest it can debit my account is tomorrow, debits are next day- Fast Forward to Phase 2 (September 2017) depending on time of day when consumer uses the ACH Card, and when company processes the debits, this debit could hit their account today (Same Day)?
What if the consumer account is NSF? The RDFI returning the entry – what’s their process, to send in an earlier window, for earlier settlement?
Who should attend?
- ACH Operations Staff
- Compliance Officers (Auditors)
- ACH Managers
- Electronic Payments Professionals
- AAPs – keeping up with changes in ACH Rules and wanting to earn AAP Continuing Education Credits
- Anyone who wants to enhance their knowledge of new rules
Why should you attend?
ACH credit transaction in the same day environment have been in place and companies are utilizing this function. Beginning in September 2017, debits are being added to the same day environment. How does this change things for the Originator, the ODFI and the Receiver of those debit transactions?
Paying a 5.2 cent fee to receive debit entry settlement same day may be a great business decision for the Originators of debit transactions. Think check conversion, ACH card transactions, preauthorized debits, credit card payments are all examples of ACH transactions that can benefit from the same day debit option.
This session will outline the benefits of same day debits, suggestions on the types of industries that could benefit and also how the Receiver is affected (without them knowing it) and how to handle such inquiries going into the debit same day ACH space.
Faculty - Ms.Donna Olheiser
Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ experience. She has designed and facilitated over 150 training sessions each year with her expertise being the rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).
Ms. Olheiser is also an experienced project manager managing education programs for organizations per their requests on processing electronic payments while developing personalized training programs for financial institutions. She has over 23 years of experience in the financial services industry which includes 9 years’ experience as the education service director at a Regional Payments Association (RPA), where she managed and facilitated the entire education program for nearly 800 financial institution members. Prior to that, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004).
Her 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. Ms. Olheiser’s ability to engage the learner through the entire training event helps the adult learner apply what they’ve learned during and after each training session.