Third-Parties - Who are They, How To Identify Which Third-Party They Are, and What Are Their Responsibilities in the ACH Network? Webinar
Attend this session to hear suggestions on how the ODFI can perform their due diligence to determine whether they have a Third-Party Sender relationship and register with NACHA accordingly beginning Sept 29, 2017.
Objectives of the Presentation
Identify ways in which the ODFI can perform due diligence to determine "if" they have a Third-Party Sender relationship
Outline details on how to determine if there is a "nested" Third-Party Sender
Provide the implementation period, provided by NACHA to submit initial registration information or to provide statements that the ODFIs have no Third-Party Sender customers
Outline timeframe that ODFIs will have to register their Third-Party Sender customers
Define the requirements for the ODFI to provide a limited set of initial, basic registration information for each Third-Party Sender
Why Should you Attend
A NEW Rule was recently approved and will require Originating Depository Financial Institutions (ODFIs) to identify and register their Third-Party Sender customers with NACHA. This Rule becomes effective September 29, 2017.
The registration process will promote consistent customer due diligence among all ODFIs, and serve as a tool to support NACHA´s continuing efforts to maintain ACH Network quality.
In order to understand the impact this will make on the different participants (specifically Third Parties) - we need to identify the "Third-Party Sender" - extremely detailed examples will be used to help with this identification (due diligence) process.
What is a Third-Party Sender and how to determine if you have this type of relationship
What types of Third-Parties are there - to ensure understanding of the different types of Third-Parties
Tips on how to determine if you have a Third-Party Sender (TPS) or "nested TPS" relationship
What the "NEW Rule" means for the ODFI and how to be sure you are in compliance
When can the ODFI begin the registration process and how long is the timeframe to register
Who Will Benefit
ACH Operations Departments and staff, Compliance Officers (Auditors), ACH Managers, Electronic Payments Professionals, AAP's - keeping up with changes in ACH Rules and wanting to earn AAP Continuing Education Credits Anyone who wants to enhance their knowledge of new rules