Banner Bank ACH Originator Guide

SEC Code

Description

Transaction Type

Entity Type

Authorization Requirement

Telephone-Initiated Entry: TEL entries provide businesses the opportunity to initiate ACH debits to consumer accounts for the purchase of goods and services pursuant to an oral authorization obtained over the telephone. TEL entries may be transmitted only in circumstances in which there is an existing relationship between the Originator and the consumer, or there is not an existing relationship between the Originator and the consumer, but the consumer has initiated the telephone call to the Originator. Internet-Initiated / Mobile Entry: WEB entries provide businesses the opportunity to initiate a debit Entry to consumer accounts for the purchase of goods and services pursuant to authorizations obtained over the Internet. The Receiver inputs banking information into the Originator’s website and authorizes the Originator to initiate an ACH debit entry. The Originator is required to authenticate the consumer in order to have a valid authorization.

TEL

Debit Single or Recurring Entry

Consumer

Orally; authorized over telephone

Debit Single or Recurring Entry

Consumer

In writing and signed or similarly authenticated

WEB

Exhibit C – Return Reason Codes The table below lists the Return Reason Codes most frequently used by RDFIs and indicates the appropriate action that should be taken depending on the reason for each Return. For a complete listing of Return Reason Codes and timeframes, please refer to Appendix Four of the Rules.

Return Code

Reason for Return

SEC Codes Return Timeframes

Action by Originator

R01

Insufficient Funds: Available balance not sufficient to cover the dollar amount of the debit entry.

All

Two (2) Banking Days May initiate a new ACH entry within 180 days of the Settlement Date of the original entry.

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