Teledraft Forms
APS Branded ACH Processing Application v6.14
9 articles Teledraft
Account Receivable Conversion (ARC) and Back Office (BOC) Conversion
Account Receivable (ARC) and Back Office Conversion (BOC) Check Conversion is where a check received in the mail for payment of an invoice or outstanding debt or received form a payer in person wherein, upon receipt, the check is being converted from a paper item (Original Source Document) to an electronic item (ACH Debit). In…
Payment Initiated Online Over the Internet
The ACH Rules governing a payment or series of payments initiated by a payer on a website (WEB) require that certain printed disclosures be provided on the web page where the payment is initiated. Those disclosures must be presented in a clear and demonstrable manner prior to (or above) the button via which the payer…
Written Authorization
The ACH Rules governing a payment or series of payments which are authorized by a payer as part of a written notification, agreement or contract require that certain disclosures be made and certain information be collected as a part of that agreement. Best practices dictate that the ACH Payment Authorization be evidenced by a separate…
Recurring Telephone Payments
The ACH Rules governing a series of recurring entries (the authorization for more than one payment), telephone initiated payments (TEL) require that certain information is recited to the payer and acquired from the payer. The sample script below includes all the recommended, minimum disclosures and information requirements for a verbally authorized payment over the telephone.…
Single Entry Telephone Payments
The Rules governing a single entry (one payment only), telephone initiated payment (TEL) require that certain information is recited to the Payer and acquired from the Payer. The sample script below includes all the recommended, minimum disclosures and information requirements for a verbally authorized single payment over the telephone. It is not necessary that your…
Retention of Authorization Records
You must retain the “Proof of Authorization” records for a two year period from the date of the transaction in order to assist in protecting yourself from future claims arising out of that payment. Although the rules of the Automated Clearing House Association (NACHA) and the Regulation E of the Consumer Protection Act do limit…
Producing and Supplying Authorizations
On occasion, ACH Processor may request that you provide a copy of a payment authorization (Proof of Authorization) in regard to a particular transaction or series of transactions. The reasons for this request can be: Compliance Audit: ACH Processor, an Originating Bank, or a Regulatory Authority is conducting a random audit of ACH Processor’s clients…
Teledraft ACH Introduction
Please be advised that the information and recommendations in regard to best practices offered herein are not to be construed as legal advice or guidance. ACH Processor does not warrant that this information is free from inaccuracies, omissions or inconsistencies or is always current. ACH Processor accepts no responsibility or liability in regard to the…