Proper Use of Return Codes Version 2 Final 122014

1 Proper Use of Return Codes in Image Exchange December 20, 2014 Version 2 Updated to conform to NOTICE All information contained in this document is based on general industry practice and the standard exchange format which provides a list of Return reasons and associated Codes that must be used for image exchange. There are various methods available to accomplish the collection of dishonored checks and not all are covered in this paper. This document is not intended as legal or compliance advice to any person or company. Financial institutions should consult with their legal counsel regarding the legal and operational requirements applicable to any check image exchange program they may offer or in which they participate. The Uniform Commercial code (UCC) and Regulation CC (Reg CC) do not include a list of specific reasons that an item may be dishonored and returned.

2 Customer / “Monetary” Returns: Definition from the standard [§4.14]: Distinguishes to the presenting bank a dishonored item. These items are usually charged to a customer’s account. Examples are NSF, stop pay, closed account, etc.

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