Automated Clearing House Policy Update Details

Product Update Notification - 11/28/07

What's New

Topic 15 - Data Breach Notification Procedures. Contains the following subtopics:

General

Prevention Measures

Detection, Investigation and Escalation

Notification of NACHA and RDFIs

Notification Timeframe Requirements

ACH Agreement Form Template. At the request of numerous clients, we consolidated our former ACH Credit and Debit Agreement Form Templates into one document. In addition, we also added additional subject matter to enhance the diverse applicability of this product which contains the following subject matter:

Agreement to Perform Automated Clearing House Services

· Rules, Laws and Regulations

· Consumer and Corporate Entries

· Cross Border Entries

· EFTPS Tax Payments

· Point of Purchase Entries

· Represented Check Entries

· Third Party Processor

· Delivery of Entries to Financial Institution

· Processing, Transmittal and Settlement by Financial Institution

· On-Us Entries

· Returns and Notifications of Change

· Provisional Payment

· Security Procedures for Unauthorized, Authorized and Inconsistent Entries

· Company Account

· Company's Representations, Warranties and Indemnification

· Notices and Statements

· Liability of Financial Institution; Limitations on Liability

· Indemnification

· Payment for Financial Institution Services

· Termination

· Confidentiality

· Records

· Credit and Audit Review

· General Provisions

Schedule A - Delivery Requirements

Schedule B - Security Procedures

Schedule C - Company Processing Calendar

Schedule D - Company Reference Card

Schedule E - ACH Service Fees

Exhibit 1 - Authorization Agreement for Automatic Deposits (ACH Credits)

Exhibit 1 - Authorization Agreement for Preauthorized Payments (ACH Debits)

Transmittal Letter

What's Revised

Topic 7 - ACH Origination Product Definition and Disclosure. The "General" subtopic was revised and a new subtopic entitled "ACH Product Applications" was added.

Topic 8 - Understanding ACH Origination Risk. The following subtopics were added:

General

ACH Credit Origination Risk

ACH Debit Origination Risk

ACH Credit Receiver Risk

ACH Debit Receiver Risk

Fraud Risk

Topic 10 - Credit Underwriting Guidelines. The following subtopics were added:

Review and Approval Process

Red Flags

In addition, the following subtopics were revised:

Additional Guidelines for Internet Customers

File Limit Establishment Guidelines

Periodic Credit Review (Item 2. - Credit Review Procedures)

Topic 14 - ACH Origination Exceptions. A new subtopic entitled "Deteriorating Financial Situations" was added.

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$275.00 - List Price

- or -

$75.00* - Update Price

*Applies only to clients who have purchased the Automated Clearing House Policy Template within the last three years in addition to the following prior update (if applicable):

Automated Clearing House Policy Template Update - 09/27/06 - $50.00

If you have ordered this product after 10/28/07 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.

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