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Free AAP ACH Rules and Regulations Questions and Answers
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The ACH Rules state that items returned for R01 and R09 can only be reinitiated two times for all of the following SEC codes except:
POP
ARC
RCK
PPD
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According to Reg E, a financial institution must provide notification to a consumer within ___ day(s) of preauthorized transfer.
1 business day
2 business days
10 calendar days
45 calendar days
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What is the Addenda Type Code used for an IAT Return?
19
25
99
98
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When will an ODFI receive returns with an R18 code from the ACH Operator?
When debits have been released to the operator two days prior to their effective date.
When debits have been released to the operator two days prior to their settlement date.
When credit have been released to the operator two days prior to their settlement date
When credits have been released to the operator two days prior to their effective date.
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For which of the following return codes is a Written Statement of Unauthorized Debit not required?
R-10
R-07
R-38
R-51
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