Overview

FedPayments Reporter for ACH Service Overview

• The FedPayments Reporter Service generates a wide variety of reports from the depository financial institution (DFI)’s ACH transaction information. This information can be scattered and indecipherable in the transactions themselves, but the FedPayments Reporter Service pulls it all together in a way that helps DFIs and their customers derive immediate value.
• The service enables DFIs to automatically identify, convert and distribute ACH information for financial Electronic Data Interchange (EDI) transactions.
• The service also provides information on non-EDI transactions. Examples include volume summary, return item, notification of change, death notice, and international transaction reports.
• The service can automatically distribute the information directly to receivers and originators via an encrypted email service or via the FedLine Solution file delivery channels to facilitate import into the DFI’s Internet banking cash management portal.
• The service includes a white-branding feature that allows the reports to appear as if they were created by the DFI, not by the Federal Reserve Banks
• The service supports reporting of ACH transactions transmitted to/from FedACH^® Services directly by the DFI or through a processor or correspondent relationship with the DFI
• The service provides valuable payment and remittance information in human-readable reports and machine-readable formats to meet customers’ varying needs
• The service generates human-readable reports in PDF, HTML, TXT and spreadsheet file formats
• The service generates machine-readable files in TXT and Nacha-formatted variations to support straight-through processing (STP) needs

Top of Page

Value Proposition

• The service generates reports automatically on an established schedule, or the DFI can manually generate reports on demand
• By using the encrypted email delivery feature, the DFI and its customers can opt to receive automated email notifications and retrieve reports when they are available
• The generated reports can be queued to a FedLine Solution file delivery channel (FedLine Advantage^®, FedLine Command^®, FedLine Direct^®). This feature enables automation to load the reports into the DFI’s internet banking cash management portal.
• The DFI can reduce or eliminate manual processing and make the reports automatically available to originators and receivers, often sooner than if delivered via other methods
• The service’s ability to import on-us and on-we items for inclusion into selected reports creates a complete view of activity for the DFI’s customers

Top of Page

Summary of Applicable ACH Rules

ACH Rule Regarding Remittance Information

The Nacha Operating Rules require that, upon the request of the Receiver, an RDFI must provide to each Receiver all information contained within the Payment Related Information field of an Addenda Record(s) Transmitted with a CCD or CTX Entry, or a CIE or IAT Entry to a non-Consumer Account. The RDFI must provide this information by the opening of business on the RDFI’s second Banking Day following the Settlement Date of the Entry.

ACH Rule Regarding ODFI Reporting Requirements

The Return Ratio Report may assist ODFIs in complying with Originator monitoring responsibilities.

• The Nacha Operating Rules require that…
• …an ODFI must provide… to the National Association within ten banking days the following information for each Originator or Third-Party Sender…
• …the actual return rate for unauthorized entries, in total and by SEC Code, for the Originator or Third-Party Sender…
• …Originator’s or Third-Party Sender’s return rate for unauthorized entries exceeding…

Top of Page

Supported EDI Transaction Sets

Supported ANSI X12 Transaction Sets

The service supports all Financial EDI transaction sets and versions including:

• 820 – Payment order/remittance advice
  • Including the “STP 820” limited segments
• 835 – Health care claim payment/advice
• 813 – Electronic filing of tax return data
• 823 – Lockbox deposit records
• 521 – Income or asset offset for child support
• 103 – Abandoned property filings

Supported Banking Conventions

In addition to the ANSI X12 transaction sets, the service also supports all Nacha9–endorsed banking conventions including:

• Health Care Payments
• Tax Payment Payments
• Child Support Payments
• Electronic Dealer Drafting

Top of Page

Report Descriptions and Samples

• The service can generate a variety of reports for all ACH audiences: ODFI, RDFI, Receiver, Originator. Detailed descriptions and sample reports are available.
• The service is offered for a monthly fee and does not require set-up fees, initial investments or long-term commitments.
• Product specialists are available and ready to discuss the FedPayments Reporter service.

Top of Page

Functionality Overview

DFI Maintenance

• The DFI Maintenance screens provide for easy entry of the parameters that the FedPayments Reporter service will use when generating reports
• This is where reports for the DFI’s internal use can be activated
• The information should be completed for each DFI ABA number defined to the service
• This information is easy to modify at any time

Customer Maintenance

• The Customer Maintenance screens provide for easy entry of the parameters that the FedPayments Reporter service will use when generating reports
• This is where reports for receivers and originators can be activated
• The information should be completed for each customer for which automatic report generation and delivery is desired
• This information is easy to modify at any time

View Scheduled Reports

• Generated scheduled reports are automatically stored and made available for manual viewing/printing/downloading via the FedLine View Scheduled Reports screen. Reports are stored for 30 processing days.
• If the Reports via FedLine feature or encrypted email service is used, use of the View Scheduled Reports functionality may be unnecessary.
• Even if the encrypted email service or the delivery via FedLine feature is used to automatically distribute the reports, the generated reports still will be available via the View Scheduled Reports screens.

On Demand Reports

• The On Demand Reports feature allows reports to be manually generated for various date ranges, Receiver Account Numbers and Company IDs in a real-time, online basis instead of automatically overnight with Scheduled Reports.
• On Demand Reports are useful when searching customers’ ACH transactions, for generating reports that were lost or not set up as Scheduled Reports, and for marketing to new customers.

Top of Page

Encrypted Email Feature

• The optional encrypted email feature is a key enabling technology that, when paired with the Scheduled Reports feature, may potentially reduce or eliminate manual processing and make the reports available to receivers and originators sooner.
• If the encrypted email feature is not used, the DFI may need to manually download the reports from the View Scheduled Reports feature using the FedLine Solution and manually deliver them to corporate customers.
• There is an unbranded internet portal that customers of the service can use to access reports queued to their email address
• The portal can be accessed at achedi.com (Off-site)
• Reports are stored in the portal for 60 calendar days
• Initial account setup and ongoing maintenance associated with the portal is completed via self-service by the owner of the email address
• Notification emails are automatically generated to alert recipients that there are reports available at the internet portal
• These notification emails might be filtered out before they reach the recipients (e.g. by spam filters). A best practice is to access the Internet portal directly each day to check for reports.
• The encrypted email service is provided by a third-party vendor
• An internet browser-based pull option is the default manner for retrieving reports via the portal
• The portal can be accessed via desktop browsers or mobile devices
• Additional information about the encrypted email vendor and its other separately priced options that enable the reports to be pushed directly to the recipient’s usual email inbox in an encrypted manner can be located at www.zix.com (Off-site)
• These optional vendor encrypted email push products are available directly from the vendor but are not required

Top of Page

Reports via FedLine Feature

• The generated reports can optionally be queued to a FedLine Solution file delivery channel (FedLine Advantage, FedLine Command, FedLine Direct). This feature enables automatic loading of the reports into DFIs’ internet banking cash management portals.
• The Reports via FedLine feature is a key enabling technology that, when paired with the Scheduled Reports feature, may potentially reduce or eliminate manual processing and make the reports available to receivers and originators sooner.
• DFIs have complete flexibility to queue any or all reports to either the FedLine file delivery and/or encrypted email channels
• The generated reports are placed in an appropriately formatted file and directed to a FedLine Solution file delivery channel (FedLine Advantage, FedLine Command, FedLine Direct). The receiver of the file uses a program to extract the reports and store them in an appropriate location, such as an Internet banking cash management portal.
• The file can be directed to the DFI’s own FedLine Solution device or to that of a third-party processor that provides software services to the DFI.

Additional information is available that describes the file format and process.

• Interface Guide, schema, field description and sample test data files are available.
• The FedLine Direct and Command security implementation guides are additional reference materials
• The FedACH interface documentation is available at the “Support Center” in FedLine in the documentation area

Top of Page

On-us Inclusion Feature

The FedPayments Reporter Service includes an optional On-us Inclusion feature. This feature allows the inclusion, in selected reports, of transactions not cleared via FedACH Services.

Inclusion of on-us / on-we items provides business customers with complete reports of all of their ACH payment information.

The DFI, or its processor, transmits the on-us / on-we items to FedACH Services for inclusion in FedPayments Reporter Service reports. These items will bypass normal FedACH Services clearing and settlement functions.

Top of Page