Accredited ACH Professional (AAP) Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Accredited ACH Professional (AAP) Exam with tailored questions and study materials to enhance your understanding of ACH transactions and operations. Test your skills and readiness for this important certification!

Practice this question and more.

What is the deadline for the ODFI to send a refused NOC?

10 Calendar Days
15 Calendar Days
5 Banking Days
20 Banking Days

The correct answer is: 15 Calendar Days

The deadline for the Originating Depository Financial Institution (ODFI) to send a refused Notice of Change (NOC) is 15 calendar days. This timeframe is established to ensure that the necessary notification is promptly provided to the affected parties, thereby facilitating swift corrections in the information that could impact subsequent ACH transactions. In this case, the ODFI must respond within this period to uphold the integrity of the ACH network and ensure that all parties are operating with accurate information. This is vital because any delays could lead to further complications or errors in transactions, which could undermine trust in the electronic payments system. While other options present various timeframes, they do not align with the established rules for handling refused NOCs in the ACH network. Adhering to the 15-calendar-day deadline helps maintain efficient processing and communication within the ACH framework.