How many banking days does one have to respond to an NOC by making the necessary changes?

How many banking days does one have to respond to an NOC by making the necessary changes?

• A. 3 banking days
• B. 6 banking days
• C. 10 banking days
• D. 5 banking days

Answer: (B)

The correct answer is based on the requirements set forth in the National Automated Clearing House Association (NACHA) Operating Rules regarding Notification of Change (NOC) responses. When a financial institution receives an NOC, it has a specific timeframe to implement the necessary changes to the customer's account information. In accordance with the NACHA rules, a receiving depository financial institution (RDFI) is required to process and respond to the NOC within 6 banking days from the date of the notification. This timeframe ensures that the necessary changes are made promptly, thereby minimizing the risk of errors or issues related to incorrect account information. Understanding this rule is crucial for ensuring compliance with NACHA guidelines and providing efficient processing of ACH transactions.

The correct answer is based on the requirements set forth in the National Automated Clearing House Association (NACHA) Operating Rules regarding Notification of Change (NOC) responses. When a financial institution receives an NOC, it has a specific timeframe to implement the necessary changes to the customer's account information.

In accordance with the NACHA rules, a receiving depository financial institution (RDFI) is required to process and respond to the NOC within 6 banking days from the date of the notification. This timeframe ensures that the necessary changes are made promptly, thereby minimizing the risk of errors or issues related to incorrect account information.

Understanding this rule is crucial for ensuring compliance with NACHA guidelines and providing efficient processing of ACH transactions.