Common use of ACH Fraud Service Module Selection Clause in Contracts

ACH Fraud Service Module Selection. a. The ACH Block module allows Customer to block all incoming ACH Debits and/or Credit Entries from posting to its Account(s). If Customer enrolls in this Service all ACH Debits will be returned. b. The ACH Positive Pay module allows Customer to review and decision all ACH Debits. All incoming ACH Debits are posted to Customer ‘s Accounts on a daily basis. Each morning, all ACH Debits will be presented to Customer for review and disposition. Customer instructs the Bank which items to pay or return. Customer shall notify Bank prior to the deadline established by the Bank of Customer’s decision on any reported item that should be returned. Customer may also create customized instructions based on criteria the Customer controls such as acceptable payees, amount and frequency to pre-authorize future transactions initiated by such “trusted trading partners” that meet the parameters established by Customer. ACH Debits that meet such criteria will not be included on future daily review lists and will automatically be processed and charged to Customer’s designated Account. Unless otherwise agreed to by Bank in writing the default instructions that will be applied by Bank to all ACH Debits will be to “return” such items. Accordingly, if no decision is made by Customer to pay or return ACH Debits by the Bank’s established deadline, such ACH Debits will not be processed and will be returned by Bank. Customer shall define notification criteria for ACH alerts during enrollment and may choose to receive ACH alerts by text or by e-mail and “per debit “or “per Account”. c. ACH UPIC Identification utilizes a unique Universal Payment Identification Code (UPIC) that takes the place of Customer’s account number on an ACH payment transaction made payable to Customer. This UPIC can be published as part of Customer’s ACH payment instructions thereby allowing Customer to safeguard its actual bank account information while facilitating its receipt of ACH payments. d. The Incoming ACH Report option provides Customer with a report listing all incoming ACH debits and credits scheduled to post against an Account. The report is sent to Customer by e-mail each morning. e. The ACH Filter Option may be utilized by a Customer to instruct Bank to post only pre-authorized ACH Debits. The Bank only posts ACH debits that originate from pre-authorized originators; all other ACH debits will be returned. .

ACH Fraud Service Module Selection. a. The ACH Block module allows Customer to block all incoming ACH Debits and/or Credit Entries from posting to its Account(s). If Customer enrolls in this Service Service, all ACH Debits will be returned. b. The ACH Positive Pay module allows Customer to review and decision all ACH DebitsDebits and Credit Entries including SEC codes POS and MTE; however, any transactions with SEC codes IAT, CIE, SHR, TRC, TRX, and XCK are excluded. All incoming ACH Debits and Credit Entries are posted to Customer ‘s Customer‘s Accounts on a daily basis. Each morning, all ACH Debits and Credit Entries will be presented to Customer for review and disposition. Customer instructs the Bank which ACH Debit or Credit Entries items to pay or return. Customer shall notify Bank prior to the deadline established by the Bank of Customer’s decision on any reported item that should be returned. Customer may also create customized instructions based on criteria the Customer controls such as acceptable payees, amount and frequency to pre-authorize future transactions initiated by such “trusted trading partners” that meet the parameters established by Customer. ACH Debits or Credit Entries that meet such criteria will not be included on future daily review lists and will automatically be processed and charged to or credited to the Customer’s designated Account. Unless otherwise agreed to by Bank in writing the default instructions that will be applied by Bank to all ACH Debits or Credit Entries will be to “return” such items. Accordingly, if no decision is made by Customer to pay or return ACH Debits or Credit Entries by the Bank’s established deadline, such ACH Debits or Credit Entries will not be processed and will be returned by Bank. Customer shall define notification criteria for ACH alerts during enrollment and may choose to receive ACH alerts by text or by e-mail and “per debit “transaction” or “per Account”. Customer selects the review and decision of all ACH Debits or Credit Entries individually; Customer may have one or both services. c. ACH UPIC Identification utilizes a unique Universal Payment Identification Code (UPIC) that takes the place of Customer’s account number on an ACH payment transaction made payable to Customer. This UPIC can be published as part of Customer’s ACH payment instructions thereby allowing Customer to safeguard its actual bank account information while facilitating its receipt of ACH payments. d. The Incoming ACH Report option provides Customer with a report listing all incoming ACH debits and credits scheduled to post against an Account. The report is sent to Customer by e-mail each morning. e. The ACH Filter Option may be utilized by a Customer to instruct Bank to post only pre-authorized ACH Debits. The Bank only posts ACH debits that originate from pre-authorized originators; all other ACH debits will be returned. .

ACH Fraud Service Module Selection. a. The ACH Block module allows Customer to block all incoming ACH Debits and/or Credit Entries from posting to its Account(s). If Customer enrolls in this Service all ACH Debits will be returned. b. The ACH Positive Pay module allows Customer to review and decision all ACH DebitsDebits and Credit Entries including SEC codes POS and MTE; however, any transactions with SEC codes IAT, CIE, SHR, TRC, TRX, and XCK are excluded. All incoming ACH Debits and Credit Entries are posted to Customer ‘s Customer‘s Accounts on a daily basis. Each morning, all ACH Debits and Credit Entries will be presented to Customer for review and disposition. Customer instructs the Bank which ACH Debit or Credit Entries items to pay or return. Customer shall notify Bank prior to the deadline established by the Bank of Customer’s decision on any reported item that should be returned. Customer may also create customized instructions based on criteria the Customer controls such as acceptable payees, amount and frequency to pre-authorize future transactions initiated by such “trusted trading partners” that meet the parameters established by Customer. ACH Debits or Credit Entries that meet such criteria will not be included on future daily review lists and will automatically be processed and charged to or credited to the Customer’s designated Account. Unless otherwise agreed to by Bank in writing the default instructions that will be applied by Bank to all ACH Debits or Credit Entries will be to “return” such items. Accordingly, if no decision is made by Customer to pay or return ACH Debits or Credit Entries by the Bank’s established deadline, such ACH Debits or Credit Entries will not be processed and will be returned by Bank. Customer shall define notification criteria for ACH alerts during enrollment and may choose to receive ACH alerts by text or by e-mail and “per debit “transaction” or “per Account”. Customer selects the review and decision of all ACH Debits or Credit Entries individually; Customer may have one or both services. c. ACH UPIC Identification utilizes a unique Universal Payment Identification Code (UPIC) that takes the place of Customer’s account number on an ACH payment transaction made payable to Customer. This UPIC can be published as part of Customer’s ACH payment instructions thereby allowing Customer to safeguard its actual bank account information while facilitating its receipt of ACH payments. d. The Incoming ACH Report option provides Customer with a report listing all incoming ACH debits and credits scheduled to post against an Account. The report is sent to Customer by e-mail each morning. e. The ACH Filter Option may be utilized by a Customer to instruct Bank to post only pre-authorized ACH Debits. The Bank only posts ACH debits that originate from pre-authorized originators; all other ACH debits will be returned. .