Check/Check 21 Services

Letting go of paper

October 2009

The Federal Reserve Banks’ Electronic Check Adjustment Services facilitate quick and efficient resolution to your adjustment requests. The efficiencies gained through Check Adjustments via the FedLine Web^® access solution include streamlined workflow processes and enhanced tracking features, making it the service of choice for processing adjustments. As announced on July 1, 2009 (PDF), paper adjustment requests and archivable documents to follow (DTFs) will be priced, beginning in January 2010. Using Electronic Check Adjustment Services will help you avoid those fees.

One financial institution taking advantage of electronic adjustment benefits is North Dallas Bank and Trust Co., (Off-site Link) located in Dallas, Texas. Established in 1961, this financial institution is one of its region’s largest independent banks, with five banking centers and more than $1 billion in assets.

Electronic interface enables speedier resolution

Some of the most valued benefits of the service, according to North Dallas, include:

• Data requirement and logic edit checks as requests are keyed or imported
• Same-day acknowledgements or provisional entries for cases received by 3 p.m. local time (for the office receiving the request)
• Ability to view electronic copies of adjustments and supporting documentation for up to a year

The more immediate response that an electronic interface provides is particularly beneficial to North Dallas’ operations. “We no longer have to wait for the mail to resolve adjustment cases,” indicated Sadie Williams, research and adjustments specialist, who has 20 plus years of experience in the banking industry.

Resources support adjustment process

To support their check adjustment activities, North Dallas has also participated in four of the six topics covered in our Check Adjustment Webinar series. Williams indicated the information provided in the sessions she attended was extremely valuable. “The Webinar information shed a lot of light on the processing and handling of adjustment cases. I just wish I had taken the Webinar training sooner.”

The Check Adjustment Webinars provide the latest adjustment information using technology that enables participants to register and attend the sessions without leaving their desks. See, "Fed experts live at your desktop." The Webinars are designed to assist you in maximizing the benefits of our Check Adjustment Services in order to quickly and effectively resolve settlement discrepancies on checks that were processed or handled by Reserve Banks.

In addition, the online Check Adjustments Quick Reference Guide (PDF) provides information on the various investigation types handled as adjustments and the timeframes for timely submission. You might also find that our Check Adjustments Tips (PDF) provide answers to many of your adjustment-related questions.

Our national Check Adjustments Customer Support Center is staffed with specially trained representatives to assist you. For all inquiries related to check adjustments, please call (877) FRB-CHKS or (877) 372-2457.

Take action now

The efficiencies gained from using electronic adjustments as opposed to paper-based adjustments are enormous. By transitioning to electronic adjustments and letting go of paper, you gain access to time-saving features at every step in the process.

Take steps now to eliminate the paper and transition to electronic adjustments via the FedLine Web access solution. You will benefit from electronic check adjustment efficiencies and avoid the new fees associated with paper adjustments and archivable DTFs on January 2, 2010.

For more information, visit our Electronic Check Adjustments Online Resource Center.

Top of Page