FedACH^® Services

We’re adding more plusses to the FedEDI^® Plus Service

March 2010

The FedEDI Plus Service, available via the FedLine Web^® and FedLine Advantage^® access solutions, lets users choose from an extensive list of reports on FedACH transaction information, automatically generates the reports and provides a further option to automate delivery to end users. The service pulls valuable automated clearing house (ACH) information, such as electronic data interchange (EDI) payment data translations, Social Security Beneficiary recipient detail, death notification entry (DNE) listings and incoming International ACH Transactions (IATs). And, the plusses continue to add up.

What’s being added?

Last fall, we provided details about many of the reporting opportunities in the article, “FedEDI Plus - a recipe for success.” This spring, in response to your feedback, the FedEDI Plus Service will bring new features and functionality that will enable users to:

• Generate automated Return Item and Notification of Change (NOC) reports for individual originators by specifying Company IDs, and elect to automatically send the reports directly to the originators via the automated encrypted e-mail feature; automatically keep your originators informed about the disposition of their ACH items
• Load reports into your Internet banking cash management portal by choosing to deliver them automatically to the FedLine^® access solution at your institution or your processor; let your corporate customers retrieve their reports from a familiar interface
• Split out reports destined for e-mail delivery to the same receiver by individual recipient e-mail addresses; for example, send remittance reports to an individual in the company’s accounts receivable department, but send return item reports to an individual in the same company’s accounts payable department
• Use the new Originator Setup Report to easily identify which originators can benefit from being set up to receive Return Item and NOC reports

In addition to these new features and functionality, some of the existing reports will be enhanced to provide an even more complete picture of activity. For instance, the Return Item Report will include operator rejects; the NOC Report will include IAT entries; and the RDFI Quick Scan Report will include IAT entries and addenda item counts.

Watch for future announcements of the availability date and prepare to take advantage of these enhancements.

Activation is easy

To activate these new features once they are available, current FedEDI Plus Service customers need only go into the FedLine service screens and change report drop-down fields from the pre-set “No report” to the report format of choice. The new originator reports further require entry of a Company ID.

If you have not yet activated the FedEDI Plus Service for your institution, you are missing an opportunity to harness the power of FedACH information to streamline your day-to-day operations with automated reporting. Activation is easy. Just follow the simple service setup steps or contact your account executive via My FedDirectory^®.

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