BankerCollege

Standard Entry Class (SEC) Codes play a BIG part in compliance with the NACHA Operating Rules.  Authorization requirements, formats, timeframes to return, forms needed when returning are all determined by the SEC Code.

This payments webinar will identify what a SEC Code is and it’s importance, plus list the 10 most commonly used SEC Codes, what they do and the details that go with them that need to be followed to ensure all participants (Originator, ODFI and RDFI) are in compliance with the NACHA Operating Rules.

The trainer in this course will identify with real-life scenarios how the 10 different SEC Codes are used to send and receive the different types of payments (also referred to as “products”) in the ACH network.  During these scenarios, the responsibilities and warranties of the different participants will be discussed.

This payments webinar will identify when to do what and why – plus scenarios to help apply the rules and processes discussed throughout the course.

Attendee Takeaways:

• Identify the 10 most common SEC Codes
• Define the authorization requirements for each of the 10 SEC Codes
• Provide format specifics for each of the ACH products (identified by SEC Code)
• Illustrate through scenarios how the specifics for each SEC Code are applied and the importance of the different format requirements
• Describe the “notice equals authorization” concept for the check conversion SEC Codes
• List the important elements for the Originator’s role to remain in compliance with the Rules
• Outline the details on doing Returns and the specifics based on the SEC Code