SEC & Returns

Question 1

Demand Deposit Tran Codes

Answer 1

21 - Return/NOC Credit
22 - Credit Entry
23 - Prenotification
24 - $0 Entry

26 - Return/NOC Debit
27 - Debit Entry
28 - Prenotification
29 - $0 Entry

Question 2

Savings Account Tran Codes

Answer 2

31 - Return/NOC Credit
32 - Credit Entry
33 - Prenotification
34 - $0 Entry

36 - Return/NOC Debit
37 - Debit Entry
38 - Prenotification
39 - $0 Entry

Question 3

GL Tran Codes

Answer 3

41 - Return/NOC Credit
42 - Credit Entry
43 - Prenotification
44 - $0 Entry

46 - Return/NOC Debit
47 - Debit Entry
48 - Prenotification
49 - $0 Entry

Question 4

Loan Tran Codes

Answer 4

51 - Return/NOC Credit
52 - Credit Entry
53 - Prenotification
54 - $0 Entry
55 - Debit Entry (Reversal only)
56 - Return NOC for Debit Reversal

Question 5

The Transaction Type, Account type and Authorization required for this SEC Code: ARC - Account Recievable

Answer 5

1. Single Debit
2. Consumer or Non Consumer
3. Written “Posted” Notice

Question 6

The Transaction Type, Account type and Authorization required for this SEC Code: BOC - Back Office Conversion

Answer 6

1. Single Debit
2. Consumer or Non Consumer
3. Posted Notice, & a copy is provided to reciever

Question 7

The Transaction Type, Account type and Authorization required for this SEC Code: CCD - Corporate Credit or Debit

Answer 7

1. Single or Recurring Debit or Credit
2. Non Consumer
3. Agreement

Question 8

The Transaction Type, Account type and Authorization required for this SEC Code: CIE - Customer Initiated Entry

Answer 8

1. Single Credit
2. Consumer Originated
3. Agreement

Question 9

The Transaction Type, Account type and Authorization required for this SEC Code: CTX - Corporate Trade Exchange

Answer 9

1. Single or Recurring Debit or Credit
2. Non Consumer
3. Agreement

Question 10

The Transaction Type, Account type and Authorization required for this SEC Code: IAT - International ACH Transaction

Answer 10

1. Single or Recurring Debit or Credit
2. Consumer & Non Consumer
3. Consumer Debit - in writing and signed or similarly authenticated
   Consumer Credit - orally or other non-written means

Question 11

The Transaction Type, Account type and Authorization required for this SEC Code: MTE - Machine Transfer Entry

Answer 11

1. Single Debit or Credit
2. Consumer
3. Written Authorization & Signed

Question 12

The Transaction Type, Account type and Authorization required for this SEC Code: POP - Point-of-Purchase

Answer 12

1. Single Entry Debit
2. Consumer & Non Consumer
3. Posted Notice, Written and Signed Authorization

Question 13

The Transaction Type, Account type and Authorization required for this SEC Code: POS - Point-of-Sale

Answer 13

1. Single or Recurring Debit or Credit
2. Consumer
3. Written Authorization & Signed

Question 14

The Transaction Type, Account type and Authorization required for this SEC Code: PPD - Prearranged Payment and Deposit

Answer 14

1. Single or Recurring Debit or Credit
2. Consumer
3. Debit: Written Authorization & Signed
   Credit: Orally or other non-written means

Question 15

The Transaction Type, Account type and Authorization required for this SEC Code: RCK - Re-presented Check

Answer 15

1. Single Debit
2. Consumer
3. Posted Notice

Question 16

The Transaction Type, Account type and Authorization required for this SEC Code: TEL - Telephone-Initiated

Answer 16

1. Debit Single or Recurring
2. Consumer
3. Orally authorized over telephone

Question 17

The Transaction Type, Account type and Authorization required for this SEC Code: WEB - Internet Initiated/Mobile

Answer 17

1. Debit or Consumer to Consumer Credit Single or Recurring
2. Consumer
3. For WEB debit, written authorization via the Internet or wireless network; or authorization in any form and Receiver’s instruction to initiate debit via a wireless network for standing auth.

For WEB credit, no authorization is required

Question 18

Return Codes R40 - R47 are to be used by ..

Answer 18

Government Agencies Only

Question 19

Return Codes R50 - R53 are to be used for ..

Answer 19

RCK Entries Only

Question 20

Return Codes R61 - R70 are to be used for ..

Answer 20

Dishonored Returns

Question 21

Return Codes R71 - R77 are to be used for ..

Answer 21

Contested Dishonored Returns

Question 22

Return Codes R80 - R85 are to be used by ..

Answer 22

Gateways for International Payments

Question 23

Return Time Frame & Account Type for
R01 - Insufficient Funds
R02 - Account Clsoed
R03 - Unable To Locate Account
R04 - Invalid Account

Answer 23

2 Banking Days
Consumer & Non Consumer

Question 24

Return Time Frame & Account Type for
R05 - Corporate Entry to Consumer Account

Answer 24

60 Calendar Days
Consumer Only

Question 25

Return Time Frame & Account Type for R06 - ODFI Request Return

Answer 25

Undefined Return Period Corporate or Consumer

Question 26

Return Time Frame & Account Type for R07 - Authorization Revoked

Answer 26

60 Calendar Days Consumer Only

Question 27

Return Time Frame & Account Type for R08 - Payment Stopped R09 - Uncollected Funds

Answer 27

2 Banking Days Consumer & Non Consumer

Question 28

Return Time Frame & Account Type for R10 - Customer Advises Originator not Known or not authorized

Answer 28

60 Calendar Days Consumer Only *(ARC, BOC, POP, IAT can also be non consumer)*

Question 29

Return Time Frame & Account Type for R11 - Not in accordance with the terms of the authorization

Answer 29

60 Calendar Days Consumer Only (ARC, BOC, POP, ITA can also be non consumer)

Question 30

Return Time Frame & Account Type for R12 - Account Sold R14- Rep Payee Deceased

Answer 30

2 Banking Days Consumer & Non Consumer

Question 31

Return Time Frame & Account Type for R15 - Beneficiary / Account Holder Deceased

Answer 31

2 Banking Days Consumer Only

Question 32

Return Time Frame & Account Type for R16 - Account Frozen / Return per OFAC

Answer 32

2 Banking Days Consumer & Non Consumer

Question 33

Return Time Frame & Account Type for R17 - File Record Criteria Edit / No Account Found & transaction is deemed suspicious

Answer 33

2 Banking Days Record Edit - Missing Field must be included in Addenda Suspicous Entry - QUESTIONABLE must be the first 12 positions in the Addenda Payment Information field Consumer & Non Consumer

Question 34

Return Time Frame & Account Type for R20 - Not a transaction account

Answer 34

2 Banking Days Consumer & Non Consumer

Question 35

Return Time Frame & Account Type for R21 - Invalid Company Identification

Answer 35

2 Banking Days Non Consumer CIE Entries Only

Question 36

Return Time Frame & Account Type for R22 - Invalid Individual ID

Answer 36

2 Banking Days Consumer & Non Consumer, CIE + MTE Entries Only

Question 37

Return Time Frame & Account Type for R23 - Customer Refused Credit

Answer 37

2 Banking Days, from receiving notice Consumer & Non Consumer

Question 38

Return Time Frame & Account Type for R24 - Duplicate Entry

Answer 38

2 Banking Days Consumer & Non Consumer

Question 39

Return Time Frame & Account Type for R29 - Corporate Customer Advises not Authorized

Answer 39

2 Banking Days Non Consumer

Question 40

Return Time Frame & Account Type for R31 - Permissible Return

Answer 40

Undefined Return Period Non Consumer, CCD CTX Entries Only

Question 41

Return Time Frame & Account Type for R33 - Return XCK

Answer 41

60 Calendar Days Consumer & Non Consumer

Question 42

Return Time Frame & Account Type for R37 - Source Document Presented for Payment

Answer 42

60 Calendar Days Consumer & Non Consumer; ARC, BOC, POP entires only

Question 43

Return Time Frame & Account Type for R38 - Stop Payment on Source Document

Answer 43

60 Calendar Days Consumer & Non Consumer; ARC, BOC entires only

Question 44

Return Time Frame & Account Type for R39 - Improper Source Document

Answer 44

2 Banking Days Consumer & Non Consumer; ARC, BOC, POP entires only

Question 45

Consumer notice Requirements for a single-entry TEL

Answer 45

* Originator must record and/or provide written notice to receiver prior to settlement * Originator must send a copy of the authorization to the receiver

Question 46

Consumer notice requirements for a recurring TEL entry

Answer 46

Originator must 1. Record the authorization and 2. Provide consumer notice and 3. provide consumer a copy of the authorization

Question 47

Additional ODFI warranties for a TEL entry

Answer 47

ODFI warrants that the originator has, implemented a commercially reasonable system to: 1. verify the receivers identity 2. verify the validity of the routing number

Question 48

WEB originators are responsible for Implementing commercially reasonable system to ..

Answer 48

Implement commercially reasonable system to: * detect fraudulent transactions * verify receivers' identity, including account validation * verify routing number validity

Question 49

WEB annual audit inclusion requirements

Answer 49

1. physical security to protect against theft, tampering or damage 2. Personnel and access controls to protect against unauthorized use 3. network security to ensure secure capture, storage and distribution

Question 50

The following are an example of .. * Check with auxiliary on us field * Third party checks * remotely created checks * line of credit checks * investment company checks * obligations to financial institutions * check drawn on US treasury, FRB, or Federal home loan bank * State or Local government checks * non US currency checks

Answer 50

Ineligible Source Documents

Question 51

What makes a Source Document Eligible?

Answer 51

1. contains a pre-printed serial number 2. Routing, account and serial are printed in the MICR line 3. Completed & Signed (except for POP)

Question 52

The following Receipt requirements are for which entry type? 1. Originator Name (merchant) 2. Company phone number 3. Transaction Date 4. Transaction Amount 5. Serial Number 6. Merchant Number (or ID) 7. Terminal City & State

Answer 52

POP - Point of Purchase (Originator must not have the account number printed on the receipt provided to the receiver)