FedACH^® Services: Article Archives

FedACH Risk^® Management Services: Your window into ACH activity

October 2010

The importance of knowing originators and managing risk regarding ACH payments goes without saying. Our FedACH Risk Management Services are not only designed to provide you with efficient risk management controls, but to also enable you to gain firsthand familiarity with your institution’s ACH activity. See how you can benefit from an unobstructed view of origination.
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Need help complying with ACH rules and regulations?

September 2010

FedGlobal^SM ACH Payments continues to expand its range of service offerings and payment destinations. As announced in June, service to Latin America is now available with the expansion of outbound credit payments to 10 new countries in Central and South America. Learn how your institution can enroll customers who want to send funds back home to family members who do not have bank accounts.
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New ACH payment option helps reach receivers in Latin America

August 2010

FedGlobal^SM ACH Payments continues to expand its range of service offerings and payment destinations. As announced in June, service to Latin America is now available with the expansion of outbound credit payments to 10 new countries in Central and South America. Learn how your institution can enroll customers who want to send funds back home to family members who do not have bank accounts.
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Automated IAT tools deliver

July 2010

The one-year anniversary of the International ACH Transaction (IAT) Standard Entry Class (SEC) code is just around the corner — September 18. Many depository financial institutions have taken advantage of the tools offered by FedACH Services, including the IAT Output File Sort Service, to help streamline processing of IAT items through added efficiency and convenience. Is your organization leveraging the available tools?
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Tools that ratchet up your ACH risk exposure monitoring

June 2010

NACHA’s new Risk Management and Assessment Rule is set to take effect June 18, 2010. Equip your organization with our suite of monitoring tools to help strengthen your ACH risk management efforts, identify and prevent unscrupulous activity and comply with the new rule.
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Plug ACH risk monitoring efforts into all sources of origination

May 2010

Is your institution managing its automated clearing house (ACH) origination risk across all originators in a consolidated manner? Our FedACH Risk^® Origination Monitoring Service can help by providing consistent, comprehensive and centralized monitoring for both internal and external origination, regardless of the network entry point or ACH software.
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Grab your ticket to new cross-border destinations

March 2010

Exciting changes for cross-border payments are expected in the coming months when ACH credit payments to 22 European countries and 12 additional Latin American countries will be available. And, FedGlobal^SM ACH Payments customers will have two new payment delivery options and new options in the transfer and receipt of cross-border payments for select countries.
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We’re adding more plusses to the FedEDI^® Plus Service

March 2010

This spring, in response to valued customer feedback, the FedEDI Plus Service will include new features and functionality, plus existing reports will be enhanced to provide an even more complete picture of FedACH transaction activity. It all adds up to streamlined operations — and additional revenue opportunities — via automated reporting.
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The moral of the story: Set your monitoring criteria

November 2009

The Federal Reserve Banks offer an array of FedACH Risk^® Management Services to help you mitigate ACH risk. These real-life stories tell how risk services can help save the day … once monitoring criteria are in place.
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Taking payments to many new countries in 2010

November 2009

FedGlobal^SM ACH Payments will expand to 22 European and 12 Latin American countries and introduce new payment delivery and foreign exchange options next year. Learn more about these new cross-border opportunities.
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FedEDI^® Plus — a recipe for success

October 2009

What do you get when you add a drop of IAT to a pinch of DNE and a dash of RTN? If you’re cooking with the FedEDI Plus Service, you get a ladle full of automated reports to serve up your FedACH information.
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FedEDI^® Plus — the product of choice for BancorpSouth

September 2009

BancorpSouth used the CD-based FedEDI Service for many years to provide payment-related electronic data interchange (EDI) details to its corporate customers. But now, with the Web-based FedEDI Plus Service, customers receive the added benefits of streamlined processing and operational efficiencies. Learn how FedEDI Plus searches ACH transactions and compiles the details into a variety of easy-to-read reports.
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FedGlobal^SM ACH Payments open a new world of opportunities

August 2009

In just over a month, financial institutions will have a world of new opportunities in cross-border payments. The International ACH Transaction (IAT) rule enables expanded payment opportunities for financial institutions and their business customers. Learn how to pre-enroll today to be ready on September 18.
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The last step: Entering risk management criteria

July 2009

It’s easy to activate FedACH Risk^® Management Services, but once activation is complete the final step is to set monitoring caps and/or file threshold criteria. Learn how we can help you check off the last setup step.
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Are you IAT-ready … or not?

June 2009

Of the approximately 300 respondents who participated in a March survey, 93 percent indicated they expect to be ready for NACHA’s International ACH Transaction (IAT) rule change when it takes effect September 18, 2009. Are you ready?
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Two institutions, two services, two success stories

June 2009

Read about two financial institutions that put the suite of FedACH Risk^® Management Services to work to minimize duplicate file processing and counteract fat-fingered files. Learn how these tools can help you develop new best practices and monitor potential risks.
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Now available: New reports help automate access to FedACH information

May 2009

The FedEDI^® Plus Service just got better with the addition of two new automated reports that can assist you in meeting legal requirements and help you track transaction activity. Find out how.
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IAT tools and online resources @ the ready

May 2009

With the International ACH Transaction (IAT) rule change quickly approaching, learn about the upcoming tools that will help you identify and monitor IAT items and the resources available now to help you prepare.
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For risk management, one size does NOT fit all

April 2009

Because financial institutions are very different, no single ACH risk mitigation strategy satisfies the needs of all. Which scenario most closely resembles your institution and what risk practices fit your ACH business?
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Introducing FedGlobal^SM Services: A new world of options in cross-border ACH

March 2009

Plenty of exciting things are in store this year for FedACH International^® customers. Not only will the new International ACH Transaction (IAT) rule introduce significant changes to the global payments landscape, we will also launch a round of enhancements that will revolutionize cross-border ACH payments. And, we will unveil FedGlobal Services — the new face of FedACH International Services.
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Think complete picture with FedEDI^® Plus

March 2009

By searching the many data fields of FedACH processed items, the Plus side of FedEDI Plus pulls difficult-to-decipher information into easy-to-understand reports. Many new reports are coming your way this year. Take a closer look at how they can help simplify your ACH processing and learn how you can put FedEDI Plus to work for you.
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New tools call out international ACH items

February 2009

The new International ACH Transaction (IAT) SEC code and format requirements will help financial institutions more easily identify all parties to an international payment and redefine roles and obligations of a gateway operator. Once the new rule takes effect on September 18, 2009, FedACH Services will make two new tools available to help you identify IAT activity.
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Power up your ACH processing

February 2009

Need a more comprehensive view of the critical detail behind your ACH transactions? FedACH Information Services is a powerful suite of tools that helps you maintain effective, efficient control of your payments operations. You’ll benefit from timely access, easy navigation, flexible data retrieval and convenient online access. Learn how you can put the power of information at your fingertips today.
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FedACH in 2009: Exciting new services, same old prices

January 2009

As we welcome in a new year, there's plenty of news to share about FedACH Services. To support ongoing adoption of electronic payments, we are holding 2009 prices at 2008 levels, and planning new functionality to meet unique risk mitigation strategies while ushering in streamlined straight-through processing capabilities.
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Eight months and counting to the IAT transition

January 2009

What does the new International ACH Transaction (IAT) Standard Entry Class (SEC) code mean to you? It demonstrates that the U.S. payments system and the automated clearing house (ACH) network are adapting to the globalization of commerce and, in the process, enabling more financial institutions to easily offer international ACH services to their customers.
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FedACH^® + FedEDI^® Plus = more value

November 2008

By providing a way for your business customers to accept and easily match ACH payments to their accounts receivable entries, you can enhance your suite of business services and potentially develop a new fee-based service.
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It’s coming…gauging readiness for IAT

August 2008

The effective date for the new International ACH Transaction (IAT) Standard Entry Class (SEC) code and attendant format, originally slated for March 20, 2009, has been extended to September 18, 2009. The IAT SEC code consolidates international automated clearing house (ACH) transactions currently coded under the Corporate Cross-Border (CBR) and Consumer Cross-Border (PBR) SEC codes into a single SEC code, with expanded format. The additional data fields will facilitate OFAC screening and open the door to incoming international ACH transactions. All receiving depository financial institutions (RDFIs), regardless of whether they also originate international ACH transactions, need to be prepared to receive IAT entries, and the time extension will help ensure they are ready.
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Monitoring + self service = greater control

August 2008

The FedACH Risk^® RDFI File Alert Service, the latest additional to the Federal Reserve Banks’ suite of FedACH Risk Management Services, extends risk monitoring capabilities to RDFIs.
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Location, location, location…the key detail in classifying international transactions

May 2008

It’s the first rule in real estate – location, location location. In 2009, it becomes the key factor in determining how to classify a cross-border ACH entry.
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As the speed of payments accelerates, focusing on risk is crucial

May 2008

On March 1, 2008, the FedACH Risk^® RDFI File Alert Service became the newest additional to the Federal Reserve Banks’ FedACH Risk Management Services suite, joining the FedACH Risk Origination Monitoring and FedACH Risk Returns Reporting Services. Available via FedLine Web^® and FedLine Advantage^® access solutions, the RDFI File Alert Service extends FedACH^® risk monitoring tools beyond origination to the DFIs that receive incoming FedACH files.
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Business payments information – ready and waiting

May 2008

It’s here. FedEDI^® Plus – the next generation FedACH^® electronic data interchange (EDI) translation service – provides online translation, reporting and delivery functionality and replaces the standalone Windows^®-based CD translation software available since 1998. You can now conveniently access this online functionality via the FedLine Advantage^® and FedLine Web^® access solutions.
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On the verge of an international payments revolution

January 2008

The international ACH payments environment in the U.S. will undergo big changes on March 20, 2009. On that date, International ACH Transactions (IAT) will replace NACHA’s Consumer Cross-Border (PBR) and Corporate Cross-Border (CBR) Standard Entry Class (SEC) codes.
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Growth anticipated for cross-border ACH payments

January 2008

In October 2007, the Federal Reserve Banks invited organizations to participate in an online survey about cross-border ACH payments in order to gauge industry perspectives on anticipated growth, current and planned usage, and product considerations. The survey’s 554 responses provide insight from those with an interest in cross-border ACH payments and, as such, represent opinions from this group.
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FedACH: Crossing borders with seamless service

November 2007

The Federal Reserve Banks have been facilitating electronic Automated Clearing House (ACH) payments for nearly four decades. Over the years, the array and reach of FedACH Services has expanded – crossing borders with the ease and reliability customers have come to expect from FedACH.
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Examining ACH risk…to be better prepared

September 2007

For effective risk mitigation, knowing what is at risk is half the battle. Gaining an understanding of what external regulators look for during a routine bank examination regarding ACH risk can help position financial institutions to be better prepared to mitigate risk.
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Successfully spreading the word about Directo a México

September 2007

It is well known that cross-border payments made via FedACH International^® Mexico Service – Directo a México – are efficient and reliable ACH transactions. And, Directo a México is less costly for credit payments, such as payroll, pension, annuity, mortgage and closing costs, and remittance payments to individuals in Mexico. But, how can financial institutions communicate this to their customers who will benefit from this convenient and secure method to send payments from the U.S. to Mexico?
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Canada Connection^SM makes its debut

July 2007

The Federal Reserve Banks recently unveiled Canada Connection – a new easy-to-remember promotional name and related campaign for the FedACH International^® Canada Service. Canada Connection helps your institution promote this cost-effective channel of cross-border payments to current and potential customers.
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Pump up your financial superhero powers with FedACH^® Origination Power Kit

July 2007

Is your financial institution prepared for the accelerating shift to an electronic payments system? NACHA^® – The Electronic Payments Association recently reported that roughly 16 billion payments, valued at more than $30 trillion, were processed via the ACH network in 2006 – a 14.5 percent increase over the prior year’s ACH volume. If the first quarter of 2007 is any indication, NACHA’s projection that annual ACH payments double every five years will ring true. In first quarter 2007, the ACH network grew another 14.8 percent compared to a year ago, with 3.42 billion transactions worth more than $7 trillion.
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Banking on Directo a México: LCCU helps families build bridges and formal banking relationships on both sides of the border

March 2007

Last year, Latino Community Credit Union (LCCU), based in Durham, North Carolina, was the first credit union in the country to sign up for Directo a México – the bilingual marketing program offered jointly by the Federal Reserve Banks and their central banking counterpart in Mexico, Banco de México. The Directo a México program helps LCCU promote the use of FedACH International^® Mexico Service for a fast, low-cost and convenient cross-border payments service that is designed to be secure. “Directo a México is an easy and efficient remittance service for our members,” said Angel Romero, director of marketing at LCCU.
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FedACH International Transatlantic Service: Facilitating U.S. payments to Europe

January 2007

The volume of international payments has ballooned over the years – thanks to technology and international cooperation, which have worked to bring the price of cross-border transactions down over time. Henrik Parl, managing director of the Eurogiro Network, noted, “As the fees for these payments continue to decline and the ease of making them grows, the number of payments is expected to continue to grow – this is inevitable in a globalizing economy with relatively free movement of people and goods.”
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A Texas bank responds to ACH risk

January 2007

We’re continuing our look at the FedACH Risk^® Origination Monitoring Service, specifically through the eyes of its current customers. In the September issue of FedFocus, we presented the experiences of a selection of customers coast to coast. In this issue, we focus more closely on the experiences of the First National Bank of Central Texas, a Waco-based community bank with $310 million in assets.
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