How many calendar days can a corporate account take to return an unauthorized transaction?

How many calendar days can a corporate account take to return an unauthorized transaction?

• A. 30 Calendar Days
• B. 45 Calendar Days
• C. 60 Calendar Days
• D. 90 Calendar Days

Answer: (C)

The appropriate timeframe for a corporate account to return an unauthorized transaction is 60 calendar days. This is in accordance with the rules governing ACH transactions, which recognize a longer time frame for corporate accounts compared to consumer accounts. For consumer transactions, unauthorized returns must typically be initiated within 60 days from the date of the transaction, but businesses, which typically have more robust safeguards and are presumed to have more understanding of transaction processes, are allotted a time frame of 60 calendar days as well. This extended time allows corporations to review their accounts and detect any unauthorized activity that may not be immediately apparent. Therefore, the choice of 60 calendar days aligns with the regulations surrounding corporate ACH transactions.

The appropriate timeframe for a corporate account to return an unauthorized transaction is 60 calendar days. This is in accordance with the rules governing ACH transactions, which recognize a longer time frame for corporate accounts compared to consumer accounts.

For consumer transactions, unauthorized returns must typically be initiated within 60 days from the date of the transaction, but businesses, which typically have more robust safeguards and are presumed to have more understanding of transaction processes, are allotted a time frame of 60 calendar days as well.

This extended time allows corporations to review their accounts and detect any unauthorized activity that may not be immediately apparent. Therefore, the choice of 60 calendar days aligns with the regulations surrounding corporate ACH transactions.