Payments Pulse - March 4th Edition

March 04, 2020

Payments Pulse

Payments Pulse, March 4, 2020

Industry News & Resources

ACH Operators Announce Third Same Day ACH Processing Schedule

Source: Nacha

Check Fraud Climbs to $15.8 billion as Check Use Declines

Source: Frank on Fraud

Cashless In Seattle: Credit, Debit or Prepaid Only at CenturyLink Field

Source: Q13 Fox News

Nacha Request for Comment: Meaningful Modernization Topics

RFC Deadline April 3, 2020

We Get Questions...

Q.) Is it OK for a Social Security (SSA) benefit payment to be direct deposited into a business account if the beneficiary for the funds is the sole signatory on the account? I don’t find the answer in the Green Book.

A.) Although this specific scenario is not addressed in the Green Book, SSA payments should not be deposited into commercial (business) accounts. Additional details can be found on the Social Security website / Program Operations Manual System (POMS) / Acceptable Types of Financial Institution Accounts. This topic and more are also addressed in our recorded webinar titled Federal Government Benefit Payments – On Demand. No charge for TCHPA members!

Have a question for TCHPA? Call 800-875-2242 (choose option 3) or email education.services@theclearinghouse.org.

RDC All-in-One Resource Guide Now available in the TCHPA Store!

This all-in-one resource provides sample procedures and documentation to help financial institutions effectively implement a Remote Deposit Capture (RDC) program for consumers and companies. Don't spend your valuable time writing and creating documents! The RDC Resource includes everything you need to establish or enhance your RDC policies, procedures and risk management:

Legal Governance
Considerations for RDC Policy and Procedures
Sample RDC Risk Management Policy
Sample Remote Deposit Annual Review Considerations
Sample RDC Check Destruction Tracking Log
Customer Self-Audit Considerations
Customer/Merchant Audit Considerations
RDC Training Guide

Order Now! Only $195 for TCHPA Members

Payments University

This FREE multi-day workshop leverages track-based learning to provide payments training for participants at various levels of experience. Whether you're a novice or experienced payments professional, we've got you covered. ACH, card, check, wire transfer and emerging payment products and services will be discussed. Exercises and case studies will be included to reinforce the learning experience. Payments University is a great opportunity for attendees to network with peers and earn potential continuing education credits.

May 13-14
Frankenmuth, Michigan

As soon as our 2020 Payments University agendas are set, we’ll post them on our website and in your Payments Pulse newsletter. Meanwhile, you can view our 2019 agenda to get a feel for the types of sessions typically presented.

Upcoming TCHPA Education
Members – There’s no charge to register and attend any of the sessions listed below!

MAR

BSA for the Compliance Professional (Webinar)

MAR

ACH Fundamentals (Webinar)

MAR

ACH Audit Requirements (Webinar)

MAR

Payments Road Show (Rochester, NY Workshop)

MAR

AAP / APRP Alliance Meeting (Rochester, NY)

MAR

Payments Risk Fundamentals (Webinar)

MAR

2020 APRP Exam Prep (Webinar Series)

Real-Time Payments

RTP® - What's in it for you?

Which rules govern the use of the RTP network?

The RTP System Operating Rules, which can be found in the RTP Document Library on The Clearing House’s website.

Professionals in every trade have an association they rely on for industry expertise, support and resources. We're the Association for Payments People.

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