20 N.C. Admin. Code 02A .0504 - DIRECT DEPOSIT OF MONTHLY BENEFIT PAYMENTS

(a) This Rule applies to any individual case in which a beneficiary's monthly benefit was paid via electronic funds transfer (EFT) or direct deposit when the EFT was suspended by the Division in error. This Rule does not apply to any individual case involving a delay by this Division to initiate an EFT or a change in an existing EFT arrangement requested by a beneficiary.

(b) The Division shall reimburse non-sufficient fund charges incurred by a beneficiary due to the suspension in error of an existing EFT arrangement when the beneficiary was not notified of the suspension of the arrangement and upon receipt of proof that the charges were incurred.

(c) Any other bad check service charges or fees imposed by any financial institution or merchant may be reimbursed at the discretion of the Division Director upon receipt of proof that the charges were incurred.

(d) Any reimbursement of non-sufficient fund or bad check service charges shall be paid from the Pension Accumulation Fund of the Retirement System in which the beneficiary is in receipt of a benefit.

Notes

20 N.C. Admin. Code 02A .0504

Authority G.S. 58-86-10; 120-4.9; 127A-40(f); 128-28(g); 135-6(f); 135-52; 135-102(c); 161-50.1(b);
Eff. March 1, 1992;
Readopted Eff. March 1, 2023.

Authority G.S. 128-28(g); 135-6(f); 135-52; 135-102(c); 58-86-10; 120-4.9; 127A-40(f); 161-50.1(b);
Eff. March 1, 1992. Readopted by North Carolina Register Volume 37, Issue 19, April 3, 2023 effective 3/1/2023.