8/11/2019 Ach Policy

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ACH POLICY

It will be the policy of _______________________ (Bank) to comply with all ACH rule!re"ulation an# other relate# re$uirement% &he policy pecifically #efine thi

intitution' intention re"ar#in" the re$uirement un#er ACH ule! &he reen Book!

*e#eral e"ulation +! an# ,niform Commercial Co#e Article -A which permitalternati.e han#lin" bae# upon in#i.i#ual financial intitution policie an# proce#ure%

A an Ori"inatin" /epoitory *inancial Intitution (O/*I)! the Bank will offer thefollowin" ACH er.ice pro#uct to cutomer0

/irect /epoit

/irect Payment

Point1of 2ale an# Point1of1PurchaeCah Concentration 3 /iburement

Corporate &ra#e Payment

Check &runcation

e1preentment of returne# 42* checkCutomer Initiate# +ntrie

*acimile Initiate# +ntrie+lectronic *e#eral &a5 Payment 2ytem (+*&P2)

&he Bank will accept ACH file from the followin" input reource0Paper Litin"

*acimile A#.ice

Computer /ik

An ACH au#it will be con#ucte# annually in accor#ance with the minimum ACH au#it

re$uirement of the current ACH rule%

In or#er to maintain compliance with new a well a e5itin" re$uirement un#er .ariou

re"ulatory ource for ACH acti.itie! the Bank will implement the followin" proce#ure0

6% Ai"n pecific reponibilitie for ACH receipt an# ori"ination function78% e.iew the ACH Aociation 9emberhip /irectory annually to inure

that the ACH contact information i current an# notify the Aociation of

any chan"e7

:% ;erify the receipt of the current ACH ule an# re.iew rule re.iion forthe current year7

-% Pro.i#e trainin" to ACH peronnel reponible for receipt an# ori"ination

acti.itie7

8/11/2019 Ach Policy

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&he Bank will ober.e the re"ular *e#eral eer.e Bank che#ule of holi#ay an# non1

procein" #ay% ACH tranaction recei.e# ha.in" a ettlement #ate of a holi#ay or non1

procein" #ay will be pote# on the firt procein" #ay after the holi#ay or non1procein" #ay%

&he Bank will accept all #ebit an# cre#it ACH tranaction a re$uire# un#er the ACHrule with the followin" e5ception0

6% /etroye# Check +ntrie! which bear tan#ar# entry cla co#e =C>! will

be accepte# when the entrie inclu#e the erial number of the #etroye#check% &he Bank reer.e the ri"ht to refue =C> entrie if the

Ori"ination /epoitory *inancial Intitution cannot pro.i#e a check copy!

if re$uete# by the account hol#er! or if other #ifficultie occur in

obtainin" entry information%8% ACH #ebit tranaction will not be accepte# for account which the Bank

ha claifie# a account where #ebit acti.ity i limite# to i5 entrie

un#er the *e#eral e"ulation / an# the ACH #ebit entry repreent the

e.enth #ebit entry%

&he Bank will honor re$uet by O/*I to return entrie (uin" the return co#e ?@!returne# per O/*I re$uet) when the entrie are i#entifie# a erroneou an# meet all of

the followin" con#ition0

6% &he return of the entry will not caue an o.er#raft con#ition for thecutomer' account7

8% &he O/*I ha poiti.ely i#entifie# itelf an# #ocument it re$uet for the

return in writin"7

:% &he re$uet i recei.e# within a reaonable len"th of time (but within