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FedACH

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.

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.

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 Support Center

New FedLine Customers:

Questions? Contact your Support Center

Step 5 – Congratulations! Begin using your new Federal Reserve Financial Services

You can begin using the FedPayments Reporter Service for FedACH.

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