What is NOTIFICATION OF CHANGE ?
NOTIFICATION OF CHANGE – Notification to a merchant from a receiver’s bank indicating that bank account information provided with a specific transaction was incorrect and includes correct information.
A Notification of Change is created by an RDFI to notify the ODFI that previously valid information contained in a posted entry has become outdated or that information contained in a pre-notification or live transaction is erroneous and should be changed. Many times an NOC occurs because the customer’s bank has merged or been bought by another bank and they have changed the customer’s account or routing number.
|C01||Incorrect bank account number||Bank account number incorrect or formatted incorrectlyTime Frame: 2 banking days from original Entry settlement|
|C02||Incorrect transit/routing number||Once valid transit/routing number must be changed|
|C03||Incorrect transit/routing number and bank account number||Once valid transit/routing number must be changed and causes a change to bank account number structure|
|C04||Bank account name change||Customer has changed name or ODFI submitted name incorrectly|
|C05||Incorrect payment code||Entry posted to demand account should contain savings payment codes or vice versa|
|C06||Incorrect bank account number and transit code||Bank account number must be changed and payment code should indicate posting to another account type (demand/savings)|
|C07||Incorrect transit/routing number, bank account number and payment code||Changes required in three fields indicated|
|C09||Incorrect individual ID number||Individual’s ID number is incorrect|
|C10||Incorrect company name||Company name is no longer valid and should be changed.|
|C11||Incorrect company identification||Company ID is no longer valid and should be changed|
|C12||Incorrect company name and company ID||Both the company name and company id are no longer valid and must be changed|