ach

GoDirect is a secure website that provides a quick and easy way to: (2)

- initiate direct deposit -switch members who receive physical checks to direct deposit

what do you do when you contact the originator of a deposit and the deposit was NOT sent?

- obtain the 15-digit trace number for the transaction from the originator -contact ACH processing with the trace number so that they can determine if the deposit posted to another acct in error -advise the member that he or she should make sure the originator has the correct acct info for future deposits

what standard entry class code most commonly seen on the PEP+

-PPD (prearranged payment and deposit) -CCD (cash concentration or disbursement) -CIE (consumer-initiated entry) -CTX (corporate trade exchange -POP (point of purchase) -RCK (re-presented check) -TEL (telephone-initiated entry) -WEB (internet-initiated entry) -XCK (destroyed chk) -ARC -BOC (bank office conversion) -IAT (international ach transaction) -POS (point of sale)

what are the sections for the Survivors Benefit: Authorizing Direct Deposit Form sections>

-a: deceased -b: survivor -c: retirement system -d:acct info -e: member signs

what are the sections for the Authorizing Direct Deposit Form sections>

-a: their info -b: retirement system -c: acct info with us -d: member signs

the cu's ACH services dept is separated into the following internal depts

-ach processing -ach support

if a member wants to start the 1198A form found on the website, what do you tell them to do?

-complete sections 1 and 2 only -come into the branch, or mail form into branch then complete section 3 and forward to gov agency

what are the advantages of direct deposit?

-eliminates the need for the member to visit the cu -eliminates the possibility of a check being lost or stolen -ensures that deposits are made on time -provides immediate access to funds

what can you not use the quickstart form to do?

-initiate direct deposit for fed salary and military pay -cancel or change direct deposits from another financial inst. to SECU or vice versa

the one exception for a SS benefit is when a ssa rep has been appointed to receive the benefit for the child or spouse, and the direct deposit is going into a common *checking* acct that (2)

-is used for all family members who live in the same household and receive benefits -shows the beneficiary parent or spouse( the ssa rep) as the owner of the acct

secu can return an ARC transaction w/I 60 days of the posting date if:

-notice of the conversion was not provided to the member -the check was also presented for payment (mbr charged 2x) -the amt is incorrect

what items are processed through the ACH system

-prearranged payment and deposit (PPD) -destroyed checks (xck) -represented check entries (rck) -consumer initiated entries (cie) -point of purchase (pop) -telephone-initiated entries (tel) -internet initiated transactions (web) -accts receivable entries (ARC) -international ACH transaction (IAT)

use the Quick-start form to *initiate* direct deposits for the following types of benefits from fed agencies

-social security -SSI -Railroad Retirement Board (annuity) -Railroad (unemployment/sickness) -civil service (opm retirement/annuity) -civil service (opm survivor/annuity) -veterans affairs (va)

for which agencies do you use the GoDirect website to initiate direct deposit for fed benefits

-social security -ssi -railroad annuity benefit -railroad unemployment/sickness benefit -office of personal management- civil service retirement annuity -office of personal management- civil service survivor annuity -VA

what info do you need before starting the GoDirect

-ssn -claim number or the 12 digit check # of the mbrs last fed ben chk -correct spelling of the name and address info as they appear on the chk -pmt amt of the benefit recipient's last fed ben chk -cu routing number to which the benefit chk will be deposited -acct number to which the benefit chk will be deposited

you should complete the "Authorization to redirect ACH Debits and Credits" when a member requests to redirect the ACH transactions to a new or existing acct for any of the following reasons:

-the member no longer wants to be an owner on a joint acct -the member is a victim of fraud &/or elder abuse -the member has closed an acct without referencing ACH transactions

if an ach deposit error occurred because the branch provided incorrect acct info to the mbr, and the funds are not available what do you do?

-use monetary adjustment function to debit the "returned check collection" gl acct and credit the correct member's acct (that branch will then be responsible for collecting the amt of deposit to the wrong acct) make sure you reverse the returned check fee

branch and member support service employees should complete the following when a member dies

-use the deceased mbrs ssn to find all their accts -review accts to determine if ACH credits are being deposited into any of the deceased accts(have a code of 012AC or 525AD for share) -if you see deposits within the last 45 days call ACH Support immediately

if a direct deposit was made in error to another members acct and the funds ARE still available, what steps do you take?

1. verifiy that the correct members name is listed on the deposit in EFT1 2. contact the member who received the funds in error (phone first then mail) 3. withdraw the funds from the acct to which the direct deposit was made in error 4. deposit funds into correct members acct 5. contact ACH processing and request they key a "swap" 6. advise the member that they should make sure the originator has the correct acct info

street address for ach processing dept used on the GoDirect

1000 wade ave

secu routing #

253177049

lg routing number

253184537

nc press routing number

253184922

the IRS limits the number of tax refunds to _________ that can be direct deposited to the same acct. this limit is in place to prevent fraudulent refund payments from being deposited into a single acct

3

how many forms are there for the 1198A

3 all three must be signed by the member

how long does it take for direct deposit to begin?

30-60 days

when must the completed Authorization for Automatic Deposit of Net Pay (from their payroll office) be returned to the payroll office to be effective for that month

3rd of the month by 9:30 am

how many production jobs does PEP+ run every day how long is it down for when running a production

6 10-20 mins

how long can it take to cancel or change their existing direct deposit

60-90 days

what is the code for ach debits

66

an item that posts top a chk acct with a trans code of ________ can be returned as unauthorized or revoked w/I ___________ days of the date it posted to the acct

66 60

for ACH, mmsa acct #s must be how many digits?

7

for ACH, CPG acct #s must be how many digits

8

the ach warehouse shows transactions that have posted w/I the last _____________ days

90

a single entry ach debit that provides companies with the ability to convert checks received through the mail or at a drop box location into ach debits

Accounts Receivable (ARC)

what must you complete to change the direct deposit acct and how long does the change take to go into effect

Authorizing Direct Deposit Form 30-60 days

should we accept responsibility for a deposit that went into someone elses acct?

Never without determining the cu is actually at fault

a financial institution that forwards paperless entries received from an originating company directly to the automated clearing house

Originating depository financial institution (ODFI)

return code: the member is revoking the authorization he or she previously gave to the company and wants us to return ALL future transactions from that company

R07

return code: the member wants us to return future transactions from the company for a specific dollar amt only

R08

what code should you key a stop payment for prior to any ach debits attempting to post to the members acct

R08

return codes: the member did not authorize the company to draft their acct

R10

ACH processing will not post ACH credits to closed __________ accts

TIME system

when an ach deposit is redirected, what do they send to the member?

a letter stating: -the acct to which the deposit was redirected -the number of days (45) his or her ACH deposits to the closed or invalid acct will be redirected to the other acct

when completing the Authorizing Direct Deposit Form, if we select more than one retirement system, what has to be done

a new form has to be completed for each retirement system

what must you do if your looking for an ach transaction older than 90 days

access Image system

dept handles ach disputes and direct deposits

ach processing

dept handles the direct deposits of deceased members?

ach support

when is a signature required on the "Authorization to Redirect ACH debits and credits"

ach transactions are redirected -from an ind. to a joint acct -from a joint acct to another joint acct that has a different joint owner

when is a signature recommended but not required on the "Authorization to Redirect ACH debits and credits" form

ach transactions are redirected -to an acct with the same ownership (both accts are individual with the same owner or joint with the same owners) -from a joint acct to an ind acct the member is a victim of elder abuse

can credits be made to any acct at the cu?

all deposit accts

when must state retirement direct deposits be returned when the mbr dies?

all funds received AFTER the month of the death

when must fed agencies (ss, VA, civil service, etc) direct deposits be returned when the mbr dies?

all funds received after the date of death must be returned to the appropriate agency

the ACH revocation removes the cu from what>

any disagreement between the member and the company drafting the acct

used for direct deposit of retirement benefits from agencies under the Retirement System Divisions of the NC Dept of State Treasurer

authorizing direct deposit

an electronic payment network

automated clearing house (ACH)

a single entry ach that provides companies with the ability to convert checks received at the point of purchase or bill payment location

bank office conversion (BOC)

Social Security benefits should be deposited into an ind or joint acct owned and titled in whose name?

beneficiarys

ach debits can only be made from which accts?

checking

what field is the day the transaction is supposed to post in the warehouse screen

coll sett date

an individual who authorizes an originating company or agency to initiate a paperless entry to debit or credit an acct

consumer (customer/employee/member)

how long do you retain the completed and signed 1198a Financial Institution Copy

current month plus the next three months

entries originated for the collection of checks contained in a lost or destroyed cash letter shipment

destroyed check (XCK)

what can a member do if they want to redirect his or her future ACH transactions tied to a cu acct

do one or both -contact the company associated with the ACH transaction -contact the cu to complete the "Authorization to redirect ACG Debits and Credits"

when will credits be posted?

during the last nightly processing before their effective date

an organization that provides legal and operational framework enabling its member financial institution to offer ACH services

ePay

secu is a member of _________ one of the regional payment associations that make up the National Automated Clearing House Association

ePay

a non paper item processed from magnetic tape, direct data feed through a secure data line, or a similar data processing method

electronic entry

a system that eliminates paper instruments which are costlier and less efficient to process

electronic funds transfers systems (EFTS)

t/f we can cancel direct deposit from federal agencies for a member

false- we cant they have to cancel with the agency directly

what do you do when you have completed the quickstart form

fax it to ACH processing

What does the trace code mean/

first 8 digits are the routing number last seven is the ODFI sending sequence

when must national guard direct deposits be returned when the mbr dies?

if they died before the date of the deposit

what are not required to process electronic transactions

institution prefixes and leading zeros

on the GoDirect form, what do you key if the members name, address, and payment are incorrect?

key exactly as it appears on the check

what should you NOT use GoDirect for

members who need to change a direct deposit acct at the SAME financial inst. or change direct deposit from an acct at a DIF financial inst. to an acct at the cu

an association that provides the legal and operational framework tying local ACHs to a national network

national automated clearing house association (NACHA)

does PEP+ verify that the name on the transaction matches the name on the acct

no

can you use the "Authorization to redirect ACG Debits and Credits" form to redirect a future tax refund or one-time deposit?

no ach processing requires at least one prior transaction in the warehouse to redirect future transactions

can direct deposits be split amongst accts?

no can be moved via FT once deposited

can secu stop the originating company from converting checks to ARC transactions?

no the member must contact the originating company

when using the exception for SS, can the child or spouse recieveing the benefit be the owner of the acct?

no because they can not have direct access to the funds

when are retirement payments posted

on the 25th if on weekend, it will post the business day before in December the 20th

if an item posts to a chk acct with a trans code of 066 and a return code of R08, it can only be returned ____________ of the posted date

one business day

how is the first retirement payment always made

paper check mailed on the 25th of the month

a single entry ach debit when acct info is captured from the check at the point of purchase and the check is returned to the member

point of purchase (pop)

indicates that an authorization has been given by the customer and that the future paperless entries will be submitted

pre notification

zero-dollar amt transaction giving the receiving financial institution the opportunity to correct a transaction before live items are transmitted

pre-note

a paperless entry generated by a company and sent through the originating financial institution and ACH to a receiving financial institution

pre-notification (pre-note)

what are the return codes?

r01-NSF r02- acct closed r03-no acct/unable to locate acct r06- return per ODFI request r07- authorization revoked r08- stop payment r10-not authorized by member

What are the return codes for stop payments on trans codes of 066

r07 r08 r10

A receiving financial institution that received paperless entries from an ACH for posting to the accts of its members

receiving depository financial institutions

a single entry ach debit that provides companies with the ability to resubmit checks previously returned as NSF

represented checks (RCK)

a paperless entry that a receiving financial institution is unable to post

returned item

a unique identifying number assigned to each financial institution by the American Banking National Numeric System

routing number

on GoDirect, when should you use the claim number

social security and ssi

codes that identify the formatting layout for a batch of ACH entries and "consumer" and "corporate" entries for applications of rules and regulations

standard entry class (SEC) codes

used for members who receive benefits in the name of a deceased state retiree

survivors benefit: authorizing direct deposit form

Do not complete a "Authorization to redirect ACG Debits and Credits" unless when>

the member gives his or her consent to redirect future ACH transactions

what must the member do before we key a R07

the member must first notify the company by phone and in writing before the cu processes a stop payment on all future transactions from the company

when will debits be posted?

the night of their effective date

when ach processing redirects an ach deposit that posted to a closed or invalid acct (ind. or joint), it is redirected where>? what is the only exception?

to an ind acct in the name of the member on deposit a joint tax refund which is redirected to a joint acct with the same ownership

when do you use the 1199A form (direct deposit sign up form)

to enroll members for direct deposit of fed salaries or military payments only

15 digit number assigned to a paperless entry by the ODFI

trace number

for ACH, chk acct #s and share acct #s have to be how many digits

up to 8

what happens if an ach deposit posted to another members acct in error?

we are obligated to provide the funds to the rightful owner if possible if the funds are no longer available, we CANNOT debit the other members acct

can members have more than one allotment for the 1198A form?

yes

does the cu assume liability for any ACH transaction that we change?

yes