For how long can an RDFI return a Point-of-Purchase Entry for the reason of unauthorized transaction?

The correct duration for an RDFI (Receiving Depository Financial Institution) to return a Point-of-Purchase entry for the reason of an unauthorized transaction is indeed 60 days. This timeframe is established under the NACHA Operating Rules, which govern ACH transactions. Specifically, the rules indicate that for a consumer account, the RDFI has up to 60 calendar days from the settlement date of the original transaction to initiate a return for unauthorized debits.

This provision is crucial as it reflects consumer protection measures, allowing consumers to dispute charges they did not authorize within a reasonable period. It ensures that even if there is a delay in noticing the unauthorized charge, consumers still have the opportunity to seek rectification within that two-month window. Understanding this timeframe is essential for compliance and for properly advising customers about their rights and responsibilities regarding ACH transactions.