Lunchtime Tip: ODFI Limited Warranty
Credit
AAP:0.6
Description
On June 30, 2021 a new ACH Rule took effect further clarifying Originator/ODFI Authorization Warranties and better defining RDFI rights when making a breach of warranty claim for unauthorized Entries beyond the prescribed return timeframes in the ACH Rules. Between 60 days, 95 days, one year and two years, it can be a bit confusing. Join Wespay for this newly added Payments Tip to better understand your rights as an RDFI and responsibilities as an ODFI regarding this important new ACH Rule.
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