A new Nacha rule has been approved that redefines Return Reason Code R11 to be used for the return of a debit in which there is an error, but for which there is an authorization. This Differentiating Unauthorized Return Reasons rule is designed to better distinguish among types of unauthorized return reasons for consumer debits.
A key difference between R10 and R11 is that an Originator will be permitted to correct the underlying error of an R11 return. It's critical that your institution understand the differences between R10 and R11, and that your systems and staff are ready to use it correctly before the first phase of implementation on April 1, 2020.
This webinar will discuss the definitions and uses of R10 and R11; how to prepare your systems and your staff; the two phases of implementation; and the benefits of this Rule change to you, your customers or members, and the industry.
This On Demand course may be selected as an elective for the ePayResources ACH Certification Program.
NOTE: On Demand courses remain available for 90 calendar days after registration is processed. This period includes nights and weekends. Unlimited viewing is allowed within the 90-day period. Once the 90-day interval expires, the course may not be accessed again. Additional registration may be processed for an additional fee.
AAP/ APRP Credits: Up to 1.2