Treasury Management Services

Your business is unique. Your Treasury Management Services should be too. We specialize in providing the tools you need to efficiently manage the finances of your business and save you time and money.

Call 1-866-270-6100 or email TreasuryMgmt@ucbi.com if you have questions for the Treasury Management Services team. 

Reversals

• If you need to initiate a Reversal, use the same fields for the initial origination and place the word REVERSAL in all caps in the Company Entry Description Field. 
• The rule also allows for a reversal due to a wrong date if a debit entry was posted prior to or a credit entry was posted after the intended date.

Enforcement

• Use of ACH origination in violation of the NACHA Rules in a willful or reckless action involving at least 500 entries or multiple entries totaling at least $500K will be considered an egregious violation. Such a violation would be reviewed by NACHA as a Class 2 or Class 3 Rules Violation.  The sanction for Class 3 violation may lead to fines up to $500,000 per occurrence and suspension of origination access.

 

Return Reason Code 

NACHA has updated the use of return reason code R-11.The rule re-purposes an existing, little-used return reason code (R11) that will be used when a receiving customer claims that there was an error with an otherwise authorized payment. Previously, return reason code R10 was used as catch-all for various types of underlying unauthorized return reasons, including some for which a valid authorization exists, such as a debit on the wrong date or for the wrong amount. In these types of cases, a return of the debit still should be made, but the Originator and its customer (the Receiver) might both benefit from a correction of the error rather than the termination of the origination authorization. The use of a distinct return reason code (R11) enables a return that conveys this new meaning of “error” rather than “no authorization.”

This has become effective in two phases with the second phase April 1, 2021:

• An Originator that has received an R11 return may correct the error or defect in the original Entry, if possible, and Transmit a new Entry that conforms to the terms of the original authorization, without the need for re-authorization by the Receiver.
  • The new Entry must be Transmitted within 60 days from the Settlement Date of the Return Entry
  • The new Entry will not be treated as a Reinitiated Entry if the error or defect in the previous Entry has been corrected to conform to the terms of the original authorization

For more information or detail surrounding these or other NACHA rules, please visit https://www.nacha.org/rules/ or contact your Treasury Management teammate.

How to correctly choose SEC Code in Online Banking

In Online Banking, as you are submitting your transactions, under Origination Details there is a dropdown to select the SEC Code PPD or CCD.  Please select the correct SEC Code that corresponds to the recipients of the originated transactions as seen below:

• PPD - Prearranged Payment and Deposit
• CCD - Cash Concentration and Disbursement 

Overview