What SEC codes are Consumer Only?
PPD, POS, TEL and WEB
What type of entries can a Prearranged Payment and Deposit Entry (PPD) have?
Single Entry, Recurring Entry, or Subsequent Entry. Can be either debit or credit entries
Amount of Addenda Records supported for PPD
1 Optional Addenda Record
Authorization/agreement requirements for Prearranged Payment and Deposit Entry (PPD)
Debit Entry authorization must be in writing and signed or similarly authenticated and Receiver must receive copy of authorization
What type of entries can a Point of Sale Entry (POS) have?
Single Entry or Subsequent Entry. Debit or credit (recredit for POS debit)
Amount of Addenda Records supported for POS
1Mandatory Addenda Record
Authorization requirements for POS
Initiated at electronic terminal (defined by Reg E) and PIN security (ANSI ASC X9.8 standards)
What type of entries can a Telephone-Initiated Entry (TEL) have?
Single Entry, Recurring Entry, or Subsequent Entry and only debit
Amount of Addenda Records supported for TEL.
No Addenda Record
Authorization requirements for TEL.
Must have existing relationship between Originator and Receiver or Receiver must
initiate call
TEL Originators have established and implemented commercially reasonable
systems to?
Verify Receiver’s identity (authentication) and Verify routing number
Originators must retain for 2 years from
date of authorization and provide to
Receiver prior to settlement either Original or duplicate audio recording or Copy of written notice confirming Oral Authorization
Retention For Single TEL Entries
Originators must retain for 2 years from
termination or revocation both
* Original or duplicate audio recording of
Oral Authorization
* Evidence copy of authorization was
provided to Receiver in compliance with
Regulation E
Retention For Recurring TEL Entries
- Originator must retain Standing
Authorization and proof that Receiver
affirmatively initiated each payment in
accordance with terms of Standing Authorization - 2 years from termination or revocation of
Standing Authorization - 2 years from Settlement Date of
Subsequent Entry - Originators must provide to Receiver
prior to settlement either - Original or duplicate audio recording or
- Copy of written notice confirming Oral
Authorization
Retention For Subsequent TEL Entries
What type of entries can a Internet-Initiated Entry / Mobile Entry (WEB)
Single Entry, Recurring Entry, or Subsequent Entry. Can be either debit or credit entries
Amount of Addenda Records supported for WEB.
1 Optional Addenda Record
- Written authorization via internet
- Written and signed or similarly
authenticated authorization and
Receiver’s instruction for initiation via
Wireless Network - Subsequent Entry initiated by positive
action taken by Receiver stated in
Standing Authorization
Authorization requirements for WEB
Non-Consumer Only SEC Products
CCD, CTX and CIE
What type of entries can a CCD have?
Single Entry Only and Corporate Credit, debit, or Zero-Dollar Entry
Amount of Addenda Records supported for CCD
1 Optional Addenda Record
What type of entries can a CTX have?
Single Entry only, Corporate Trade Exchange Entry and Credit, debit, or Zero-Dollar Entry
Amount of Addenda Records supported for CTX
Supports optional 9,999 Addenda Records
What type of entries can a CIE have?
Single Entry and credit only
Authorization for CIE entries
No written authorization requirement for CIE
