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Understanding RDFI Responsibilities
- Define RDFI responsibilities when receiving ACH transactions
- Funds availability guidelines
- Prenote responsibilities for the RDFI
- RDFI warranties on Extended Returns
- Identify Timeframes for General and Extended Returns
- Describe the Addenda Record Requirements for the RDFI
- Details on the NOC (COR Entry) Process for the RDFI
- Same Day ACH and its effect on the RDFI’s processing day
Overview of the webinar
This session identifies the general responsibilities of the Receiving Depository Financial Institution (RDFI) such as, the role they play in the ACH network, accepting all types of Entries, funds availability and right to Return.
The session begins with the RDFI receiving the ACH file, uploading the ACH file, the warehouse process, and includes a basic overview on the Stop Payment process, Returns, Prenotes, NOCs (COR Entries) from the RDFI perspective.
Session includes listing the minimum elements in a WSUD, plus when to use a Stop Payment form vs. the WSUD (for front-line staff) – with the trainer providing examples of the RDFI doing exception processsing
Who should attend?
- ACH Operations staff
- Compliance Officers
- ACH Managers
- Electronic Payments Professionals
Why should you attend?
As a Receiving Depository Financial Institution (RDFI) your day is filled with many different processing activities. This 90-minute session will walk you through a typical day at the RDFI with an overview of each step of processing ACH transactions.
From receiving legacy and Same Day ACH (SDA) transactions and posting on settlement date to exception handling processes will be covered. Stop Payments, Return Timeframes and the Return Process, WSUD details and when to use the form, and Notifications of Change process will all be included in this very comprehensive session.
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.