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43 Cards in this Set
- Front
- Back
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What record is the Service Class Code located in and what are the 4 codes? |
Batch Header Record 200 - Both 220-Credits 225-Debits 280-Automated Accounting Advices (ADV) |
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What record is the Originator Status Code found in and what are the codes? |
Co. Batch Header 0-Operator (ADV) 1-Financial Institution/originator 2-government |
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What is the fields inclusion record? |
Tells you what is required vs mandatory vs optional. |
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Where is the Transaction Code located and what are they? |
Located Entry Detail Record DDA - 2 SAV- 3 GL - 4 Loan - 5 What would each be for a return or prenote or remittances? |
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What is the acronym for the SEC codes with mandatory addenda records? |
SPIDERCMT
what are the sec codes types? |
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What is the acronym for SEC codes with no addenda records? |
TAX AT PBR
what are those sec codes? |
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What is the Payment Tye code and where is it located? |
Entry detail record, tells if it is single or reoccurring?
Is it optional or mandatory? |
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Is Payment type code required to TEL or WEB? |
TEL is optional, should be single but some want to authorize requiring through this manner WEB is required to provide. |
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What is Title 31 Federal regulations and the phrase to help you remember what is included? |
Fed regulations for federal government to participate in ACH. |
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What is the smallest unit in an ACH file? |
Element |
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What makes up a set of logically related data elements in a defined sequence? |
Segment |
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What is the arithmic sum of the 8 digit routing number of each RDFI within each entry detail record? |
Entry Hash |
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If an entry hash is greater then 10 digits what is done to the number? |
Digits on left are removed |
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How many payment related characters are in an addenda record |
80 |
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If a receiver requests addenda information how many day does the ODFI HAVE TO PROVIDE THEM? |
2 banking days |
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Addenda 1 for an IAT entry contains information about what? |
The entry information |
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Addenda 1 for an IAT entry contains information about what? |
The entry information |
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Addenda record 3 and 4 for an IAT record contain what information? |
Info on originator |
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A secondary SEC code for an IAT is found in what addenda record? |
2 |
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An IAT RETURN CONTAINS A MINIMUM OF HOW MANY ADDENDA RECORDS? |
8 |
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Immediate destination and origin are found in what record? |
File header record |
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How many characters is the company entry description field? |
10 |
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How many characters is the company entry description field? |
10 |
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What should be in the company entry description field for an XCK entry? |
NO CHECK |
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UCC applies to all wholesale transactions. What specifically does UCC 4A apply to? |
Credits only |
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What standards and committee provide guidance for PIN security and management? |
ANSI ASC X9.8 |
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A consumer must be notified how many days prior to any change in terms. Including fees,liability, restrictions and frequency. |
21 days |
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For recurring authorizations if I change a date of debit or amount how many days must I notify the receiver of those changes? |
Date change - 7 Amount Change - 10 |
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A reclamation entry must be made within how many days of knowledge of death? |
5 banking days |
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A reclamation entry must be made within how many days of knowledge of death? |
5 banking days |
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If a reclamation’s entry is returned to the ODFI a written demand may be made within how many days? |
15 banking days after return is received |
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If an RDFI is unable to post an entry they must return back as R03 within how many days? |
2 banking days |
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FedWire funds transfer legal framework is found within what? |
Reg J Subpart B and OFAC |
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Which of the following fields contain the reason for payment as required by 0FAC for IAT entries |
Transaction Type Code in the first addenda record |
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Which of the following is a nonprofit group that develops cross industry national standards |
ANSI |
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And ODFI creating a destroyed check into the transaction, according to the format requirements in the NACHA operating rules, what word or words needs to be in the company name field |
CHECK DESTROYED |
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Who makes the decision relating to whether a rules issue needs a formal interpretation or possibly a rules amendment |
Rules an operations committee |
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The RDF I received a DNE entry for a receiver who was the beneficiary of federal government benefit payments. The amount in the receivers account is less than the total payments received since the date of death. To limit the liability for the RDFI they should do what? |
Return all post death benefits for both Social Security and Veterans Administration. For payments sent via ACH using our15 return reason code any remaining cut to a check and sent within one business day |
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If a receiver requests an RDFI to return in entry when should the RDFI do so |
Available to the ODFI no later than opening of business day on the second banking day following receipt from the receiver |
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Which company would be the best prospect for direct payment |
High-volume reoccurring accounts receivables |
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What is the maximum time frame for the RDFI to respond to the government reclamation before the federal reserve account is automatically debited for the full amount of the reclamation |
10 banking days |
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In what field must the consumer senders name be located in a WEB credit transaction |
Individual identification number field |
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Who directs the ODFI to suspend the originator or third-party sender as a result of a class III rules violation |
Rules enforcement panel |
