Business Online Banking Guide Platinum Bank

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Notifications of Change (NOC) • Instead of returning an entry, the RDFI may issue a Notification of Change (NOC) if account information is incorrect (for example, an invalid account or routing number). • The RDFI is required to transmit the NOC within applicable timeframes (generally within two banking days of the settlement date of the related entry). • Your ODFI will forward the NOC details to you. For recurring entries, you are required to correct the information within the timeframe established by ACH rules (generally within six banking days of receiving the NOC or before the next scheduled entry, whichever is later). • For single-entry transactions and certain SEC codes (ARC, BOC, POP, RCK, XCK, single-entry TEL, and single-entry WEB), correction may not be required; however, making the correction is recommended to help reduce the risk of future exceptions or returns. Reversals • A reversal may be used to correct an erroneous ACH entry, such as a duplicate payment, incorrect amount, or unintended recipient, in accordance with applicable ACH rules. • Reversals must be initiated in accordance with ACH rules and only under specific conditions, generally within defined timeframes (often within five banking days after the settlement date of the original entry). • Authorization from the Receiver is generally not required for a properly initiated reversal under ACH rules; however, you should make reasonable efforts to notify the Receiver of the reversal no later than its settlement date. ACH processing is subject to the Nacha Operating Rules and applicable laws and regulations. Your use of ACH services is governed by your agreement(s) with Platinum Bank, which may include additional requirements, limitations, and obligations.

ACH: ACH Exceptions & Notifications