AAP SEC Codes and Entry Types 3

Question 1

Which SEC code covers ACH debit entries to consumer accounts where authorization is obtained at the point of sale via a debit card transaction?

Accepted Answer

POS (Point-of-Sale)

Answer

POS (Point-of-Sale) is the SEC code for consumer debit transactions initiated at the point of sale using a debit card or similar access device.

Question 2

The SHR (Shared Network Entry) SEC code is used for:

Accepted Answer

Point-of-sale debit transactions processed through a shared electronic network

Answer

SHR is used for point-of-sale debit transactions initiated through a shared electronic network (such as Interlink or STAR) processed via ACH.

Question 3

For a company initiating a one-time ACH debit authorized by a consumer on the company's website, which SEC code is correct?

Accepted Answer

WEB

Answer

WEB is the correct SEC code for any ACH debit to a consumer account where authorization was obtained via the internet, whether for a one-time or recurring payment.

Question 4

The DNE (Death Notification Entry) is used by:

Accepted Answer

Federal government agencies to notify RDFIs of a recipient's death and stop future credits

Answer

DNE is a zero-dollar notification entry used exclusively by federal government agencies to inform RDFIs that a benefit recipient has died so future credits can be stopped.

Question 5

The ENR SEC code is used for:

Accepted Answer

Automated enrollment of consumers in federal government benefit programs

Answer

ENR (Automated Enrollment) is used by federal government agencies to enroll or update consumer direct deposit information for government benefit programs.

AAP - Accredited ACH Professional Practice Test

AAP - Accredited ACH Professional Practice Test

AAP SEC Codes and Entry Types 3