FedPayments® Reporter Service for FedACH® Services Setup
Thank you for choosing the FedPayments Reporter Service for FedACH. We are ready to work with you to make this a smooth and easy transition. Following are the steps to take to streamline your implementation process, including contacts to help you with questions at any step along the way. Depending on the access solution and services to which you already subscribe, you may be able to omit several of these steps. Read the steps carefully to determine which apply to you. If you need advice or assistance at any step of the process, consult your relationship manager.
Step 1 – Assess Your Access Needs
Use the following links to determine which access solution provides the services/features your organization needs and the number and type of Subscribers who will need access to those solutions in your organization.
- Review the 2023 FedLine Solutions Services Comparison Matrix (PDF)
- Determine FedACH Subscriber Access Levels needed
- Review your security and contingency procedures to ensure that appropriate safeguards are in place when using any FedLine® Solution
Step 2 – Review Rules and Regulations
Federal Reserve Financial Services use is governed by applicable Operating Circulars. In addition, the Board of Governors of the Federal Reserve System has responsibility for implementing certain laws pertaining to a wide range of banking and financial activities. The following apply to FedACH Services.
Operating Circulars
- Operating Circular 4: ACH Items - governs clearing and settlement of commercial ACH credit and debit items. Appendix F1 specifically discusses the FedPayments Reporter Service for FedACH Services.
- Operating Circular 5: Electronic Access – covers terms for electronically accessing Federal Reserve Financial Services
Regulations
- Regulation E – primarily addresses consumer rights pertaining to electronic funds transfers
- Regulation CC – includes regulations concerning availability of funds
NACHA's Operating Rules (Off-site)
Provides information regarding annual ACH rule changes, their operational impact and whether any software changes are required; includes a system of national fines; available through NACHA or your Payments Association (Off-site)
Uniform Commercial Code-Article 4 (Off-site)
Green Book (Off-site)
A comprehensive guide for institutions that receive ACH payments from the federal government and send payments (i.e., collections) to the federal government.
Step 3 – Review Hardware/Software Requirements
Evaluate all internal software/hardware systems and compare to Federal Reserve Bank requirements to determine if changes are needed for a successful production cutover.
Step 4 – Complete Forms/Agreements
Now that you've determined your access solution, service feature and Subscriber needs, you can proceed to document all your decisions in the required forms. Those with existing access to FedLine FedACH Information Services need only complete and submit Part 6D, or for more complex processing arrangements the additional Part 6E Section A or Section B, of the FedACH Participation Agreement.
- Ensure that your organization has submitted Board Resolution and Official Authorization List (OAL) using the standard form required by the Federal Reserve Banks
- Complete Part 6D, Section A (PDF), and for more complex processing arrangements, the additional Part 6E, Section A (PDF) or Section B (PDF), of the FedACH Participation Agreement. These attachments must be signed by a person on your institution’s OAL. Submit completed agreements to the location listed on the form.
- To activate optional delivery of Reports via FedLine and/or On-us Inclusion features, complete and submit Part 6D, Section B (PDF) and/or Part 6D, Section C (PDF), respectively, of the FedACH Participation Agreement.
Questions? Contact FedACH and Check Services Customer Support.
Current FedLine customers:
- The FedPayments Reporter Service for FedACH is accessible via FedLine Web and FedLine Advantage. Those with FedLine access to FedACH Information Services need no additional Subscriber access rights. If new Subscriber access to FedACH Information Services is desired, an End User Authorization Contact (EUAC) with authority to manage access for FedACH Services should submit a Subscriber request via the EUAC Center within FedLine Home.
Questions? Contact the Customer Contact Center
New FedLine Customers:
- Complete the FedLine Web Service Setup or FedLine Advantage Service Setup
Questions? Contact your Customer Contact Center
Step 5 – Congratulations! Begin using your new Federal Reserve Financial Services
You can begin using the FedPayments Reporter Service for FedACH.