The FedACH Risk RDFI Alert Service provides notice of unusual or noteworthy conditions within a receiving depository financial institution’s (RDFI) incoming FedACH® Service batches and/or files and/or within the RDFI account holder’s incoming items. The service helps alert the RDFI and/or its account holders' to potential fraud attempts, to significant origination errors, to situations requiring further action and to conditions of interest. View the FedACH Risk Management Services product sheet (PDF) to learn how the RDFI Alert Service fits into the entire suite of FedACH Risk Management Services. Request that we contact you (Off-site) regarding your interest in FedACH Risk Management Services.
|ACH Field Name||Description||How it mitigates risk?|
|Originating ODFI Identification||ODFI RTN||Identifies batches from a financial institution the RDFI considers as having poor origination practices.|
|Company Name||Name assigned by the originator to identify its transactions to the receiver||This name will often not change as an originator or third party moves from ODFI to ODFI. Some problematic originators will move from ODFI to ODFI on a regular basis.|
|Company Identification||Alpha numeric identifier generally assigned by the ODFI used to identify an originator||When combined with ODFI RTN, this field provides the most accurate method for identifying a single originator from a particular RTN.|
|Standard Entry Class Code||Code used to identify the payment type of a batch||RDFIs can use this field to identify particular payment types that it may perceive to be of greater interest relative to potential risk.|
|Company Entry Description||Payment description passed to the receiver’s bank statement||This name will often not change as an originator or third party moves from ODFI to ODFI. Some problematic originators will move from ODFI to ODFI on a regular basis.|
|Entry/Addenda Count||The number of transactions and supplemental transaction information contained in a batch||RDFIs can use this field as a gauge for frequency of payments coming from a particular source within a single batch.|
|Debit or Credit Dollar Amount||Summarized dollar value of the transactions contained in a batch||As batches are from a single source, the dollar value naturally gives the RDFI a view of its exposure to a particular originator.|
|Settlement Date||The date on which a payment settles in the RDFI’s Fed account||Returns can settle in the RDFI’s Fed account at 1 p.m. ET, 5 p.m. ET, and 5:30 p.m. ET on the same day as the transactions are processed. At a significant dollar value, these transactions could impact balances in the RDFI’s Fed account late in the day.|
Using the FedACH Risk Alert Service requires only that your institution has access to the FedLine Web or FedLine Advantage Solution, that your designated staff has access to FedACH Information Services and that you complete and submit Part 6C (PDF), and for more complex processing arrangements, the additional Part 6E, Section A (PDF) or Section B (PDF), of the FedACH Participation Agreement. Then you are ready to set your monitoring criteria and begin putting this valuable monitoring tool to work.