Accredited ACH Professional (AAP) Practice Exam

What is a common eligibility requirement for RCK transactions?

1. Funds must be instantly available

2. Check must be initiated on or before the due date

3. Check must be from a consumer account

4. Must have a financial institution's guarantee

The correct answer is: Check must be from a consumer account

The correct answer highlights that RCK transactions specifically involve checks that must be from a consumer account. This requirement is in place because RCK (Re-presented Check) transactions are designed to facilitate the collection of returned checks that were initially declined due to insufficient funds. By ensuring that the transactions originate from consumer accounts, it helps to maintain a clear distinction between consumer and commercial transactions, which have different regulatory and operational considerations. Other requirements for RCK transactions, such as needing financial institution guarantees or specific timelines for when checks must be initiated, are not as broadly applicable. These nuances further illustrate the purpose behind the consumer account requirement, which is to focus on personal checks that the ACH network facilitates for consumers rather than for business-related transactions.