In the financial services industry, there is constant turnover and training new employees on the basics of ACH electronic payments can be difficult and time-consuming. Perhaps you have staff that have been working in ACH for some time, come to work every day, follow a checklist, but have no idea what or how the ACH payments get processed. For these employees and others whose responsibilities pertain to ACH payments, this webinar will provide the basis of how ACH payments work.
Objectives of the Presentation
With the implementation of Same Day ACH, there are now options when sending ACH transactions and the settlement and funds availability has changed as well. Even if you thought you knew the ACH Network basics, this session will outline how it has changed since the implementation of Same Day ACH.
Why Should you Attend
During the webinar, attendees will discover the fundamentals of how ACH electronic payments work and the roles that each participant in the ACH network plays to make ACH payments effective, efficient and inexpensive.
- Identify what is the ACH network and examples of ACH electronic payments
- List the five basic participants in each electronic ACH transaction
- Outline the roles each participant plays in the processing of ACH electronic payments
- Define the basic legal framework of the ACH network
- Illustrate the most common types of payments that flow through the ACH network
- Describe the settlement process for both the "Legacy ACH" and the Same Day ACH" processes
- Define the different types of payments in ACH and the differences between a debit and credit ACH transaction
What are ACH payments, how do they work and what does that mean to a financial institution and its customers - are a few questions that will be answered during this introduction to ACH payment processing.
Who will Benefit
- ACH Operations staff
- Compliance Officers
- Treasury professionals
- Third-Party Payment Processors
- Third-Party Senders
- ACH Managers
- Electronic Payments Professionals
- ACH auditors (internal and external)
- AAP's - keeping up with changes in ACH Rules and wanting to earn AAP Continuing Education Credits
- Anyone who wishes to enhance their knowledge of the new rules
- CFO's to pass on to their staff, Bank Management, companies who process electronic payments for themselves and for other companies (i.e. payroll processors)