|
Q.) An RDFI receives a transaction with an invalid account number with a name mismatch and believes this transaction could be fraudulent. The RDFI returns the transaction using Return Code R17 Entry with Invalid Account Number Initiated under Questionable Circumstances. What fields must be completed when an RDFI uses the R17 to return an entry initiated under this circumstance?
A.) When utilizing R17 with an invalid account number (or unable to locate account) under questionable circumstances, the RDFI must insert "QUESTIONABLE" within the first twelve positions of the Addenda Information Field. Any additional information in the remaining Addenda Field is optional. Nacha Operating Rules and Guidelines Appendix 4, part 4.2.
Have a question for TCHPA? Call 800-875-2242 (choose option 3) or email education.services@theclearinghouse.org.
The information contained herein has been prepared for general informational purposes only and is not offered as and does not constitute legal advice. You should consult with your legal counsel regarding the legal, regulatory and payments industry rule requirements that apply to specific transaction scenarios.
|
