AAP Returns, Reversals, and Adjustments

Question 1

What is the return timeframe for an RDFI to return an unauthorized consumer debit entry using return code R10?

Accepted Answer

60 calendar days from the settlement date of the original entry

Answer

2 banking days from the settlement date

Answer

5 banking days from the settlement date

Answer

90 calendar days from the settlement date

Question 2

Return code R01 indicates:

Accepted Answer

Insufficient funds in the Receiver's account

Answer

Account has been closed

Answer

No account or unable to locate the account

Answer

Payment stopped by the Receiver

Question 3

Return code R02 means:

Accepted Answer

The Receiver's account has been closed

Answer

Insufficient funds in the account

Answer

Invalid account number structure

Answer

Authorization has been revoked

Question 4

For most standard return reasons, an RDFI must return an ACH entry within how many banking days of the settlement date?

Accepted Answer

2 banking days

Answer

5 banking days

Answer

60 calendar days

Answer

Same business day

Question 5

A Notification of Change (NOC) is sent by an RDFI when:

Accepted Answer

Account information has changed but the entry was still successfully posted

Answer

An entry is returned for insufficient funds

Answer

An Originator requests account verification before sending entries

Answer

A Receiver formally disputes a transaction with the RDFI

Question 6

Which party initiates a reversing entry in the ACH network?

Accepted Answer

The Originator through its ODFI

Answer

The RDFI on behalf of the Receiver

Answer

NACHA as the network administrator

Answer

The ACH Operator upon error detection