To drive improved efficiency, security and risk management of currency and coin processing, the Reserve Banks are advancing technology and delivering greater standardization of services across the Federal Reserve System. Today's FedCash Services are easy to use and provide consistent, timely and robust services and information.
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Each Federal Reserve District maintains currency depositing and ordering operations to accept deposits of excess and unfit currency and process currency orders. To accommodate the growth of U.S. currency in circulation and replace destroyed unfit currency, the Federal Reserve Board of Governors issues newly printed currency each year, and the Reserve Bank offices distribute those notes to depository institutions. In order to operate efficiently and reduce societal cost, the Federal Reserve Banks fill orders for currency with fit currency first and then with newly printed currency, and require the recirculation of fit currency by depository institutions.
Using FedCash Services, you can order and deposit currency, monitor and manage cross-shipping activity, and access information regarding exception processing, including mutilated, contaminated, or counterfeit currency, and ordering new currency during the special holiday currency ordering periods.
Each Federal Reserve District maintains coin depositing and ordering operations to accept deposits of excess coin and process coin orders.
You can use FedCash Services to order and deposit coin, and access information regarding new coin releases and exception processing, including procedures for bent or partial coin.
The Custodial Inventory (CI) program is a feature of the Recirculation Policy that allows participating institutions to hold currency inventory in their vaults on the books of the Federal Reserve Banks. Depository institutions and armored carriers with outsourced CIs manage CI sites using FedCash Services via the FedLine Web Solution.
Manage your CI site by opening and closing the CI vault daily, reporting vault holdings and payments to customers daily, entering deposit and withdrawal transactions and accessing various reports.
A coin terminal is a secure facility operated by an armored carrier that holds Reserve Bank inventories of coin, and that receives deposits from and fulfills orders for coins from depository institutions on behalf of the Federal Reserve Bank. Coin terminal operators are contracted by the Federal Reserve Bank to perform these services and manage the coin terminals using FedCash Services via the FedLine Web Solution.
Manage your Coin Terminal by opening and closing the vault daily, entering deposits or shipments, releasing coin orders, entering other transactions and accessing various reports.
This tool is designed to be a secure and powerful solution for placing orders for currency, coin and supplies; sending deposit notifications; monitoring and managing cross-shipping activity; managing custodial inventories and coin terminals; and activating self-service control of FedCash Services for your institution.