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Thursday
Sep012016

What's New? Reclamation of Federal Benefits

DateThursday, September 1, 2016 at 10:18AM by AuthorBanking Spectrum

The Preauthorized Electronc Transfer chapter of The Gold Book has been updated to include information pertaining to the reclamation of federal benefits.

Reclamation is a procedure used by the Federal government (government) to recover benefitpayments made through the Automated Clearing House (ACH) to the account of a recipient who died or became legally incapacitated or a beneficiary who died before the date of the payment(s).

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