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Product Update Notification - 02/23/09 Automated Clearing House Policy Update Details What's Revised Topic 3 - Definitions. The following definitions were added: Endpoint Restricted Transactions Topic 4 - Risk Management. A new subtopic entitled "Prohibition on Funding of Unlawful Internet Gambling Requirements" was added. Topic 11 - Credit Underwriting Guidelines. The following subtopics were added: General Relationship Officer Responsibilities Higher Risk ACH Customers (formerly Prohibited or Restricted Customers subtopic) Additional Guidelines for Internet Gambling Customers Topic 20 - Retention of Documentation. The entire contents were revised to provide sample guidance for the retention of ACH documentation. The following form templates were also revised: ACH Agreement Form Template - What's New - Agreement Section Prohibited or Restricted Entries Site Inspection and Visitation Security Interest in Accounts and Settlement Reserve Dispute ACH Application Form Template - What's New The entire contents of this product were completely revised which now contains the following sections: Legal Business Information Doing Business As (DBA) Information Principal Information Product Contents Purpose and Contents - Topic 1 Policy Description, Authority and Scope - Topic 2 Definitions - Topic 3 Risk Management - Topic 4 Receiving Consumer ACH Transactions - Topic 5 Receiving Corporate ACH Transactions - Topic 6 Receiving International ACH Transactions - Topic 7 ACH Origination Product Definition and Disclosure - Topic 8 Understanding ACH Origination Risk - Topic 9 ACH Origination Service Application - Topic 10 Credit Underwriting Guidelines - Topic 11 Processing an Approved ACH Origination Request - Topic 12 Processing a Declined ACH Origination Request - Topic 13 Deleting an ACH Origination Customer - Topic 14 ACH Origination Exceptions - Topic 15 Data Breach Notification Procedures - Topic 16 Audit Policy - Topic 17 Reconciliation of ACH Entries - Topic 18 Staff Training - Topic 19 Retention of Documentation - Topic 20 Includes the following form templates: ACH Agreement (18 pages) ACH Application (3 pages) ACH Authorization for Automatic Deposits (1 page) ACH Authorization for Preauthorized Payments (1 page) ACH Cover Letter (2 pages) ACH Implementation Forms (2 pages) Ordering Information This product is available to purchase from Bankpolicies.com for: $325.00 - List Price - or - $25.00* - Update Price *Applies only to clients who have purchased the Automated Clearing House Policy Template within the last three years including the following updates (if applicable): Automated Clearing House Policy Template Update - 09/30/08 - $75.00 Automated Clearing House Policy Template Update - 11/28/07 - $75.00 Automated Clearing House Policy Template Update - 09/27/06 - $50.00 If you have ordered this product after 01/23/09 you are eligible to receive the product update at no charge. Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies). NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com. Find Out What's New or Revised with our Product Update Program Our Product Update Program allows existing clients to receive e-mail notifications from us the same day we issue a new or revised product. We encourage you to subscribe today for this free and convenient service. |