NACHA's Network Quality Rule

The Rule adds a new Section in Article One (General Rules) to establish “Unauthorized Entry Fees.” One subsection establishes the obligation of the ODFI to pay the fees to the respective RDFIs. A second subsection establishes the authority of the NACHA staff, and the methodology used, to determine the specific amounts of the Quality Fees. The Quality Fees will further be defined in Article Eight (Definitions).

This Rule will become effective beginning with applicable return entries that have a Settlement Date of October 3, 2016 (a Monday, and the first banking day of the quarter). ODFIs should work with their Originators, if desired, on implementing systems, tools and processes to reduce returns and thereby minimizing fees they incur. ODFIs in particular should note that fees applied to return entries as of October 3, 2016 would relate to forward entries initiated as early as August 1, 2016.

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