Lunchtime Tip: Nacha new ODFI Limited Warranty
Credit
AAP:1.2
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.