FedReceipt® Services

FedReceipt Services allow financial institutions to use “straight-through” electronic check processing for a portion or all of your inclearings. This includes items drawn on your financial institution that have been deposited in image cash letters with the Federal Reserve Banks as well as paper items drawn on your institution and deposited with the Reserve Banks. You can reduce your check processing costs and resources by decreasing in-house sorting and image capture.

Meet your customers’ needs by offering check safekeeping, image statements and home banking products through electronic receipt.

The following FedReceipt products allow you to select the options needed to best serve your customers:

FedReceipt (PDF)

Enables “straight-through” electronic check processing for a portion of your inclearings. This service option offers cost reductions, the ability to create your own substitute checks, a discount on Reserve Bank deposits and no cost presentment of items deposited with Reserve Banks in image cash letters.

FedReceipt Plus (PDF)

Enables you to receive all imageable items drawn on your institution in an image cash letter in lieu of a paper cash letter presentment. This option offers cost reductions, earlier posting and improved balance reporting, elimination of transportation delays, the ability to create your own substitute checks and a discount on Reserve Bank deposits.

FedReceipt Return (PDF)

Offers a bank of first deposit the ability to receive return items in an image return letter. It provides a discount on return items deposited with the Reserve Banks.

FedReceipt/FedReceipt Plus with FedImage Archive and Retrieval (PDF)

Provides a central archive for your check images and the ability for you and your customers to view or receive any image on demand.

Discover the benefits of FedReceipt Services

  • Cost reductions
  • Earlier posting and improved balance reporting
  • Elimination of transportation delays
  • Freedom to create your own substitute checks
  • Discount on Federal Reserve Bank deposits
  • Easily accessible customer service from knowledgeable support groups
  • Plus additional benefits highlighted in the FedReceipt product sheet (PDF)

Read what customers say about the service

“Before implementing FedReceipt and FedReceipt Plus, we had four full-time employees doing exception item pulls at night. This work now occupies only one hour, which allowed us to redeploy those employees to other opportunities.”

– Greg Snell, Director of Transaction Services at Commerce Bank
Read more (PDF, 51 KB) or view the video

“The combination of FedForward and FedReceipt Plus services helped us eliminate over $125,000 a year in third-party processing and courier costs."

– Mark Miller, Executive Vice President and Director of Operations at Premier Bank
View the video online

Read more case studies

Access Easy-to-Use Online Tools to determine if FedReceipt Service is right for you

Check 21 Business Value Calculator

Find out where you stand when it comes to enjoying the savings, efficiencies and enhanced service offerings afforded by Check 21-enabled solutions.

To start using this service, visit the FedReceipt setup page or contact your account executive

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