an Administrative Return Rate of three percent (3%)
12-07-2023 | 10:00 AM - 11:30 AM CT
If your institution’s ability to process ACH returns is impacted by circumstances where Excused Delay would be applicable, once your system is operational you should originate your return transactions as you normally would. If you receive these returns back from the ODFI as dishonored returns bearing code R68, Untimely Return, then you should contest the Dishonored Return using code R73, Timely Original Return
If your institution’s ability to process ACH returns is impacted by circumstances where Excused Delay would be applicable, once your system is operational you should originate your return transactions as you normally would . If you receive these returns back from the ODFI as dishonored returns bearing code R68, Untimely Return, then you should contest the Dishonored Return using code R73, Timely Original Return
Remember that R14—Representative Payee deceased or Unable to continue in that Capacity and R15—Beneficiary or Account Holder (Other Than a Representative Payee) Deceased return reason codes may be, under appropriate circumstances, used for any/all Entries regardless if that item is commercial or federal in origin. Again, these two return reason codes are not just use3d for the return of federal benefit payments
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A member recently posed this question about the stop payment process: If a customer places a stop pay, and an item rejects to our stop pay list, is it appropriate that we return that as R08? Would there be a need to collect a WSUD with a stop payment to return the item as R07 when it rejects to the stop pay list? Both of the return reasons indicate the receiver doesn't accept the item
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