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Reversals

  • Reversals may only be made for the following three reasons:
    • Incorrect dollar amount
    • Incorrect account number
    • Duplicate transaction
    • Wrong Date error - if a debit was earlier or credit was later than intended
  • When initiating a reversal, the reversing entry must be for the full amount, must be sent within five (5) banking days of original entry and must be sent within 24 hours of discovering the error.
  • The Receiving Bank is under no obligation to post the reversing debit if it overdraws the payee’s account, or if the payee’s account is closed.
  • A payee must be notified if a reversing entry debits his or her account.  However, a payee does not need to authorize the reversing debit.

Follow the steps below to process a reversal file.

To locate and edit the original ACH file:

  • Log in to Business Online Banking
  • Select Payments and Transfers
  • Select ACH
  • Locate the original transaction in ACH Activity
  • Select Reverse
  • If reversing a payment credit:
    • In the Pay To section, change the Reverse toggle from No to Yes for transactions being reversed. If the entire file is being reversed, change the Reverse toggle from Reverse None to Reverse All
    • Items marked for reversal will say Yes under Reverse
  • If reversing a collection/debit:
    • In the Pay From section, change the Reverse toggle from No to Yes for transactions being reversed. If the entire file is being reversed, change the Reverse toggle from Reverse None to Reverse All
  • Select Reverse ACH
  • If reversing a payment/credit:
    • In the Pay To section, select the account to credit and enter amount of reversal
  • If reversing a collection/debit:
    • In the Pay From section, select the account to debit and enter amount of reversal
  • Select Complete ACH Reversal