Does Section 4-403 of UCC Apply to ACH?
Does Section 4-403 of this UCC apply to ACH? We have read and see the NACHA Rule because of this and Reg E. They both state which you might.
Stop Pays Susceptible To Reg E
I understand this is certainly a fundamental concern but 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 part 205.10? It states, “the standard bank must honor an dental stop-payment purchase made at the very least three company times before a scheduled debit. In the event that debit product is resubmitted, the organization must continue steadily to honor the stop-payment purchase”. It further states under revocation of authorization “once the institution that is financial been notified that the customer’s authorization is not any longer valid, it should block all future payments for the particular debit sent by the designated payee-originator.” May be the bank covered if their policy would be to spot an end re re payment for a certain period of time?