How long does a DFI have to report the results of its investigation after completing it?

How long does a DFI have to report the results of its investigation after completing it?

• A. Two business days
• B. Three business days
• C. Five business days
• D. One week

Answer: (B)

The correct duration for a DFI (Depository Financial Institution) to report the results of its investigation after completing it is three business days. This timeframe is established to ensure timely communication and resolution regarding any ACH transactions that may be under investigation, such as unauthorized transactions or errors. The three business days are intended to balance the need for quick reporting with sufficient time for the DFI to conduct a thorough investigation. In the context of the ACH network, prompt reporting is essential to maintain trust among participants and to facilitate effective dispute resolution processes. It ensures that all parties involved, including the originator and receiver of the transaction, have a clear understanding of the situation without unnecessary delays. Understanding this timeline is critical for professionals in the ACH industry, as it underpins compliance with regulatory requirements and best practices within the payment system.

The correct duration for a DFI (Depository Financial Institution) to report the results of its investigation after completing it is three business days. This timeframe is established to ensure timely communication and resolution regarding any ACH transactions that may be under investigation, such as unauthorized transactions or errors. The three business days are intended to balance the need for quick reporting with sufficient time for the DFI to conduct a thorough investigation.

In the context of the ACH network, prompt reporting is essential to maintain trust among participants and to facilitate effective dispute resolution processes. It ensures that all parties involved, including the originator and receiver of the transaction, have a clear understanding of the situation without unnecessary delays.

Understanding this timeline is critical for professionals in the ACH industry, as it underpins compliance with regulatory requirements and best practices within the payment system.