AAP SEC Codes and Entry Types

Question 1

Which SEC code is used for prearranged payments and deposits between a company and consumer accounts?

Accepted Answer

PPD (Prearranged Payment and Deposit)

Answer

CCD (Corporate Credit or Debit)

Answer

CTX (Corporate Trade Exchange)

Answer

WEB (Internet-Initiated Debit)

Question 2

The CCD SEC code is used for:

Accepted Answer

Corporate credit or debit transactions between business accounts

Answer

Consumer telephone-initiated debit entries

Answer

International ACH entries involving foreign banks

Answer

Point-of-purchase check conversion entries

Question 3

WEB entries are defined as:

Accepted Answer

ACH debit entries to consumer accounts authorized via the internet

Answer

Wire transfers processed through a web portal

Answer

Credit entries initiated through online banking

Answer

Business-to-business ACH entries submitted via a web interface

Question 4

The TEL SEC code applies to:

Accepted Answer

ACH debit entries to consumer accounts authorized via telephone

Answer

ACH credit entries initiated by a company via telephone

Answer

Business telephone-initiated ACH entries

Answer

International telephone payment instructions

Question 5

Which SEC code is used for point-of-purchase check conversion transactions at a merchant location?

Accepted Answer

POP (Point-of-Purchase)

Answer

ARC (Accounts Receivable Conversion)

Answer

BOC (Back Office Conversion)

Answer

RCK (Re-presented Check)

Question 6

ARC entries convert:

Accepted Answer

Consumer checks received via U.S. mail or a dropbox to ACH debit entries

Answer

Business checks to ACH credit entries

Answer

Wire transfer instructions to ACH entries

Answer

Returned checks to ACH credit entries