Description
Processing ACH Reclamations from the Federal Government can be challenging! Chapter 5 of the Green Book has been updated making it mandatory for Financial Institutions to respond to all reclamations must be submitted through the Automated Reclamation Processing System (ARPS) located in Treasury’s Pay.gov web portal, except for responses by DFAS and any Treasury-approved exceptions, DNE’s (Death Notification Entries) need special handling and the details are covered in this session.
This on-demand class identifies how to complete the Federal Reserve Bank FedMail® Request Form (PDF) to get signed up for this email service. Misdirected payments are ALWAYS a HOT topic – what to do and your liability as a financial institution will be included in this in-depth, detailed session.
Join us to take a closer look at…
- Chapter 5 of the Green Book, which has been updated making it mandatory for Financial Institutions to respond to all reclamations whihc must be submitted through the Automated Reclamation Processing System (ARPS).
- Detailed processes on handling Death Notification Entries (DNE’s)
- How to return ACH Entries for deceased accountholders, and the timeframe for doing so.
- Return Reason Codes when returning benefit payments for deceased account holders.
- How to handle and process Federal Government Reclamations
- Timeframes and processes for responding to Government Reclamations.
- The difference between handling Commercial Reclamations and Federal Government Reclamations, demonstrated via real-world scenarios.
Who:
This on-demand session will be particularly useful for:
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- Payments Professionals
- Bank operations staff
- Risk, Compliance and Audit personnel
- New employees in the payments industry
- Bank managers, and C-Suite Leaders
- Aspiring AAP’s and current AAP’s
