AAP Returns, Reversals, and Adjustments 3

Question 1

Which return code is used when the RDFI cannot identify or locate the account referenced in the entry?

Accepted Answer

R03 (No Account/Unable to Locate Account)

Answer

R03 (No Account/Unable to Locate Account) is used when the account number cannot be matched to any existing account at the RDFI.

Question 2

A contested dishonored return must be sent by the RDFI within:

Accepted Answer

1 banking day of receiving the dishonored return

Answer

If an RDFI contests a dishonored return, it must transmit the contested dishonored return within 1 banking day of receiving the dishonored return.

Question 3

NOC change code C05 indicates:

Accepted Answer

Incorrect transaction code

Answer

C05 is used in a Notification of Change when the transaction code (indicating account type and credit/debit) in the entry is incorrect.

Question 4

When an Originator receives a Notification of Change, they must make the required corrections:

Accepted Answer

Within 6 banking days of the NOC settlement date or before initiating the next entry, whichever is later

Answer

NACHA rules require Originators to update their records based on NOC data within 6 banking days of the NOC's settlement date or before the next entry to that account.

Question 5

Return code R08 means:

Accepted Answer

Payment stopped—the Receiver has requested a stop payment on the entry

Answer

R08 (Payment Stopped) is returned when the Receiver has placed a stop payment order with the RDFI specifically covering the ACH debit entry.

AAP - Accredited ACH Professional Practice Test

AAP - Accredited ACH Professional Practice Test

AAP Returns, Reversals, and Adjustments 3