BankerCollege

This payments certification is broken into eight one-hour classes in three main areas. The 3 areas covered include:

• RTP® Introduction, to help attendees gain an understanding of the basics of the RTP® network;
• RTP® Intermediate, where we cover the risks, rules, and regulations, and;
• RTP® Advanced, where we dig deeper into settlement, returns, rejects and audits. 

Curriculum

How does settlement in the RTP® network work, and why must there be prefunding? What are the requirements for prefunding?

Understanding how settlement works in every payment network is critical to every institution that participates in the network. For RTP® to move as quickly as it does and to settle just as fast, there are certain requirements in place unique to the RTP® network. Then, have you wondered how you are going to balance an account that is always on and always available? 

It's time for real time reconciliation as we investigate what is required for funds availability and balancing within the RTP® network.

• When and how does settlement take place?
• How do you fund the prefunded account?
• What happens if the prefunded account runs out of money?
• What happens if I have too much money in my account? How can I get it out?
• Can we start with what is prefunding and how much is required, and by whom?
• What is an RTP® Day?
• What is a Reconciliation Window?
• What reports will be available?

What can you do once a real time payment is sent, and settlement has taken place? Is there any way to get your money back, or is it just a loss? If it is a loss, who must suffer the loss, you, or your account holder? 

Real-time payments are the fastest payment option with immediate settlement available currently in the U.S. With this speed comes concerns for what to do when things go wrong, and they eventually will. What can you do to protect yourself and prepare for future disputes? 

Join the Payments professor and learn all this and more:

• What is a Request for Return?
• Are Receiving Participants Required to respond?
• Is Indemnity allowed in the RTP® network? 
• What if the money is already gone?
• What if we only have some of the money?
• How are the funds to be returned?

Getting started with any payments offering requires that the financial institution conduct a Risk Assessment. That is just the start for as you continually process a new or existing offering, the regulators and the RTP® network are going to expect that you conduct an annual audit. 

• What must be submitted? 
• What has the OCC had to say about RTP® Risk Assessments? 
• What are the network requirements, and how are they satisfied?