FedACH^® Services

A tested recipe for ACH payments success

October 2012

Automated Clearing House (ACH) electronic payments have become a staple for the financial services industry. Although ACH seems to have been around forever, this payment method was only introduced in the 1970s and its popularity has been growing ever since. For more than 30 years, financial institutions have actively marketed ACH payments to their customers. If your financial institution is not among them or you simply think there is room to grow your ACH payments business, the Federal Reserve Banks have a tried-and-true recipe for payments success. Our complimentary FedACH Origination Power Kit, available upon request, is designed to help you explore how to target, market and close the ACH sale to your corporate, business and consumer customers.

 

Cook up some ACH business using power kit ingredients

Here is just a sampling of all that is included in the FedACH Origination Power Kit:

• Contact information for your local Regional Payments Association (RPA) (Off-site Link)
• Tips for selecting ACH origination software
• Ways to identify your target markets
• A competitive analysis worksheet
• Cost component considerations
• Help developing marketing strategies and support materials
• An approach to educating internal staff
• Suggestions for how to reach out to your target customers

Whether you are starting, expanding or maximizing an ACH origination program, the FedACH Origination Power Kit, which includes a link to your local RPA and the training opportunities it provides, can help your institution create a recipe for payments success.

 

Building ACH muscle

An effective ACH origination program can help you build strong relationships and revenue streams. By originating ACH items for both corporate customers and consumers, you can provide a full spectrum of payments options that can help you bolster your account relationships and maintain an edge in the highly competitive payments industry.

A robust origination program can help:

• Make it possible for you to provide convenient and efficient payment options to your customers.
• Position you as a full-service solution, one-stop shop, for your customers.
• Increase customer retention.
• Offer potential for additional revenue and cost savings.
• Establish your financial institution as a valued service provider.

The Federal Reserve Banks are committed to developing innovative options to help meet your changing needs. Our combination of high dependability, security and innovation can help enable you to provide the best ACH services to your customers. Our FedACH Services:

• Provide an efficient, low-cost, batched payment service that enables an electronic exchange of debit and credit transactions among business and consumer accounts at depository financial institutions.
• Are well-suited for preauthorized recurring payments, such as payroll, corporate payments to vendors, Social Security, insurance premiums and utility payments, as well as nonrecurring payments, such as health care provider reimbursements, point-of-purchase, telephone-initiated and Internet-initiated entries.

 

ACH daily requirement

Every day you are expected to provide electronic payment services to your customers. Now is the time to let the complimentary FedACH Origination Power Kit assist you. By using the kit and working closely with your Federal Reserve Bank account executive and your local RPA, you will gain access to the largest ACH operator in the nation, to origination services and tools and to the education opportunities your institution needs to begin a successful origination growth program. What are you waiting for? Start cooking today by requesting access to the online FedACH Origination Power Kit.

 

Save room for dessert

Once your ACH origination program is ready to serve, top it off with one or more selections from the FedACH menu of value-added services that include the FedACH Risk^® Origination Monitoring Service, the FedPayments^® Reporter Service and the FedACH Risk RDFI Alert Service. 

If you have questions, use the My FedDirectory^® Service to locate contact information for your Federal Reserve account executive. We are ready to help you set the table for success.

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