Payments and transfers (BOS and Stop Payment)

A Customer made a bill payment through check, check has no clear date and client states that merchant has not received the payment, what options are available for the client?

• We do not make payments through checks

• EFT Proof of payment

• RSM Stop and reissue

• RSM Stop and Recredit

Customer made a bill payment as EFT and states that merchant has not received the payment. What can be done in this situation?

• Refer client to merchant

• Advise that only a proof of payment can be sent through DSU

• Refer client to CBOL

• Refer client to nearest branch

How long does it take for a stop payment to take effect when stopping a check or ACH?

• 2 business days before scheduled payment to be effective.

• 1 business days before scheduled payment to be effective.

• 3 business days before scheduled payment to be effective.

• We do not stop payment for ACH and Checks

• When a client requests a Stop Payment to be placed on a check:

  • We must also place an ACH Stop Payment (Equivalent ACH) with the same details as the check during the same call in the event the merchant uses an Electronic Check Presentment to convert the check to an ACH.

• True

• False

Based on this source Bill Payment: Adding a Payee, What is the last step after adding a payee?

Should you perform higher authentication before adding a payee in BOS?

• No

• Yes

• What is BOS?

• We do not add payees in BOS

• Only the signer who scheduled the payment can request a stop and re-credit.

  • If another signer requests a stop and re-credit, advise them the initiator will need to make the request.

• False

• True

• Bill payment must be made with a minimum of 10 business days to be eligible for a stop and recredit/reissue

• I transfer to DSU without reviewing source first

• True

• False

• What is a bill payment?

• The item must be a single check; EFTs do not qualify for Stop Payment.

• False

• True

Based on this source card Bill Payment: Scheduling, what is the response time for Check Disbursements & EFT Disbursements