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Check/Check 21 Services

Federal Reserve Banks to publish new FedReceipt® RTNs

April 15, 2014

New FedReceipt RTNs for FedForward® and FedReturn® Services deposits will be published the week of May 5, 2014. These lists will reflect changes to the FedReceipt lists that have occurred between April 1 and April 30, 2014. For more information, please visit the Check 21-Enabled Services Endpoint Tier Listings, where you can review the March 31, 2014 Summary of Changes to FedReceipt Routing Numbers (XLS).

 

FedACH® Services

FedACH Feature: Automate delivery of ACH return, NOC and payment information to customers

April 15, 2014

The FedACH FedPayments® Reporter Service can potentially help your operations area automate certain manual processes and even enable your institution to offer ACH information services to more customers. Both of these benefits can be realized by combining the service’s encrypted email delivery with its remittance detail, notification of change (NOC) or return item reports.

The FedPayments Reporter Service can generate automated reports for both corporate receivers and corporate originators. The service’s Customer Transaction Activity Report provides counts of reports delivered should your institution choose to charge on a usage basis for reports provided.

Human-readable Remittance Advice Detail Reports carry electronic data interchange (EDI) information from addenda records to help your corporate receivers match ACH payments to open accounts receivable entries. This information can include invoice, purchase order and health care reassociation trace numbers. If corporate receivers have compatible accounts receivable systems, Payment Data Information files can facilitate straight-through processing of the payments.

In order to provide corporate receivers with a complete picture of incoming transactions, your institution can select from two methods for incorporating on-us items into the FedPayments Reporter Service reports. 

  • One method uses the FedPayments Reporter Service On-Us Inclusion feature to include data from transactions not processed through FedACH Services. Your institution sends in a file containing a unique file transmission identifier to signify that the items contained are not to be processed or settled by FedACH Services but rather are to be used by the FedPayments Reporter Service in the creation of reports. 
  • The other method takes advantage of FedACH Services On-Us Receipt Credit for a Receiving Depository Financial Institution (RDFI) originating and receiving items on the same Routing Transit Number (RTN). The credit is a $0.0025 discount that offsets the receipt per-item fee. These on-us items are originated along with transit items as usual and will be processed and settled by FedACH Services.

In addition to reports designed for corporate receivers, the FedPayments Reporter Service also produces reports designed for corporate originators. The service can automatically generate and deliver return item and NOC reports, removing these tasks from the daily roster of manual operations and providing corporate originators with important processing and funding information.

To help pinpoint corporate customers with a possible need for the information provided by FedPayments Reporter Service reports, the service includes the Receiver Set Up Report. This report assists with identification of receivers with addenda records in their entries. The Originator Set Up Report assists with identification of originators receiving returns and NOCs. These two reports also identify whether the receiver account numbers or originator Company IDs already have been set up for automated report generation within the FedPayments Reporter Service.

To learn more about the variety of reports available from the FedPayments Reporter Service, review the sample reports (PDF) and read report descriptions (PDF).

Announcement

The FedACH FedPayments® Reporter Service can generate automated reports for both corporate receivers and corporate originators. The service’s Customer Transaction Activity Report provides counts of reports delivered, enabling your institution to charge by report. To learn more about the variety of reports available, review the sample reports (PDF) and read report descriptions (PDF).

 

Reminder - Register to attend your local, in-person 2014 Fraud Symposium

April 15, 2014

Stay current on the latest criminal activities in the industry surrounding Internet and check fraud. By attending the 2014 Fraud Symposium, hosted by UMACHA and the Federal Reserve Bank of Minneapolis, you will receive tips on how to help prevent fraud and get a chance to participate in a hands-on hacking exercise. The full-day event is designed to provide all attendees with fresh insight into fraud and its origins.

Register online for your preferred location via the links below or download the mail-in registration brochure from UMACHA’s home page (Off-site Link).

DateLocation
Tuesday, April 22, 2014 Marquette, MI (Off-site Link)
Wednesday, April 23, 2014 Duluth, MN (Off-site Link)
Thursday, April 24, 2014 Moorhead, MN (Off-site Link)
Friday, April 25, 2014 Bloomington, MN (Off-site Link)

 

Reminder

Register to attend your local, in-person 2014 Fraud Symposium hosted by UMACHA (Off-site Link) and the Federal Reserve Bank of Minneapolis.

 

Second District

Reminder - New York Cash Services implemented changes associated with mixed denominational deposits

April 15, 2014

Districtwide... As previously announced (PDF), the Federal Reserve Bank of New York no longer accepts deposits of mixed denominational bags of currency without a denominational breakdown listed on the currency bags. 

Currency bags must be labeled with the following information detailing the bags’ contents:

  • Bank Name
  • Endpoint Number
  • Denominational Breakdown
  • Dollar Total

If your institution outsources to a third-party vendor, it is your responsibility to ensure the vendor labels your deposits correctly. You can view the original announcement (PDF) with examples that show the approved format for labeling currency bags and deposit tickets containing mixed denominations.

For questions or concerns, please contact the Federal Reserve Bank of New York’s Cash Services Department at (866) 333-2274 or at Cash.Services@ny.frb.org.

Reminder

Second District - As previously announced (PDF), the Federal Reserve Bank of New York no longer accepts deposits of mixed denominational bags of currency without a denominational breakdown listed on the currency bags. For questions or concerns, please contact the Federal Reserve Bank of New York’s Cash Services Department at (866) 333-2274 or at Cash.Services@ny.frb.org.

 

Third District

Reminder - Philadelphia Cash Services announced a change to electronic barcoded deposit tickets

April 15, 2014

Districtwide... The Federal Reserve Bank of Philadelphia is transitioning its current currency and coin deposit ticket to an electronic barcoded ticket. All customers must convert to the new electronic ticket by May 15, 2014.

Historically, the Philadelphia Cash Services department printed four-part carbon paper deposit ticket forms and mailed them to customers to use with deposits. Now, when customers place orders for deposit tickets, they will receive an electronic PDF file via email with deposit ticket forms that are pre-populated with the depository institution's information.

How does a customer request the electronic version of the deposit ticket forms?

Customers should complete the Electronic Deposit Ticket Order Form (PDF) and either fax the form to (215) 574-3932 or email it to frbp.tellers@phil.frb.org.

If you have questions regarding this change, please contact the Philadelphia Cash Services Office at (215) 574-6324.

Reminder

Third District - The Federal Reserve Bank of Philadelphia is transitioning its current currency and coin deposit ticket to an electronic barcoded ticket. If you have questions regarding this change, please contact the Philadelphia Cash Services Office at (215) 574-6324.

 

Fifth District

Account, Risk and Credit teleseminars to be held in May 2014

April 15, 2014

Districtwide… The Federal Reserve Bank of Richmond will host two Account, Risk and Credit teleseminars this spring. Each of the two-hour teleseminars will cover Federal Reserve account management, intra-day credit, discount window borrowing, pledging collateral, the reserves policy and other topics.

Ideal candidates for the teleseminars are Chief Executive Officers, Chief Financial Officers, Financial Management Analysts, Account Managers, Compliance Officers and employees who settle the Federal Reserve Bank account for their organizations.

The dates and times of the two teleseminars are as follows:

DateTimeRegistration Deadline
Tuesday, May 6, 2014 10:00 a.m. - 12:00 p.m. ET Thursday, May 1, 2014
Thursday, May 15, 2014 1:00 - 3:00 p.m. ET Monday, May 12, 2014

Register early since seating is limited to 95 conference bridge lines for each date. To register online, visit Federal Reserve Bank Events and view the details under the heading “FIFTH DISTRICT Account, Risk and Credit Teleseminars.” Online meeting details will be provided via email to each registrant prior to the event.

If you have any questions at this time, please email PSR@rich.frb.org or call (800) 322-0580.

Announcement

Fifth District - The Federal Reserve Bank of Richmond will host two Account, Risk and Credit teleseminars in May 2014. To register online, visit Federal Reserve Bank Events and view the conference details under the heading “FIFTH DISTRICT Account, Risk and Credit Teleseminars.” Online meeting details will be provided via email to each registrant prior to the event. If you have questions at this time, please email PSR@rich.frb.org.

 

Ninth District

Reminder - Register to attend your local, in-person 2014 Fraud Symposium

April 15, 2014

Districtwide... Stay current on the latest criminal activities in the industry surrounding Internet and check fraud. By attending the 2014 Fraud Symposium, hosted by UMACHA and the Federal Reserve Bank of Minneapolis, you will receive tips on how to help prevent fraud and get a chance to participate in a hands-on hacking exercise. The full-day event is designed to provide all attendees with fresh insight into fraud and its origins.

Register online for your preferred location via the links below or download the mail-in registration brochure from UMACHA’s home page (Off-site Link).

DateLocation
Tuesday, April 22, 2014 Marquette, MI (Off-site Link)
Wednesday, April 23, 2014 Duluth, MN (Off-site Link)
Thursday, April 24, 2014 Moorhead, MN (Off-site Link)
Friday, April 25, 2014 Bloomington, MN (Off-site Link)

 

Reminder

Register to attend your local, in-person 2014 Fraud Symposium hosted by UMACHA (Off-site Link) and the Federal Reserve Bank of Minneapolis.

 

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FedFlash is your source for the latest Federal Reserve Financial Services operational news. Each bulletin keeps you informed of issues critical to your day-to-day operations, providing you with National and District updates regarding our products and services, processes, technical protocols and contact information.