My real question is regarding Reg E concerning the keeping of end payments on ACH products
Does Section 4-403 of UCC Apply to ACH?
Does Section 4-403 of this UCC apply to ACH? We have read and browse the NACHA Rule because of this and Reg E. They both say you might.
Stop Pays Susceptible To Reg E
I am aware this really is a question that is basic can somebody explain stop payments that are at the mercy of Reg E?
Reg E – Stop Pays on Preauthorized Transfers
Can you offer an interpretation of Reg E area 205.10? It states, “the standard bank must honor an dental stop-payment purchase made at the least three company days before a scheduled debit. In the event that debit product is resubmitted, the organization must continue steadily to honor the stop-payment order”. It further states under revocation of authorization “once the standard bank has been notified that the customer’s authorization is not any longer valid, it should block all future payments when it comes to specific debit sent by the designated payee-originator.” May be the bank covered if their policy is always to place an end payment for the certain period of time?
