Separate check clearing from your customers’ main accounts to help protect their main working account. Many institutions utilize a second routing transit number to facilitate receiving an early daily distribution of their check presentments for controlled disbursement purposes.
Offering a controlled disbursement product can:
Ask your account executive about FedReceipt® Plus Premium Delivery.
Providing services that can facilitate controlled disbursement may present a revenue opportunity depending on whether your institution chooses to charge for provision of such services. Charging a fee is strictly a business decision for your institution.
Speeding up the check clearing process can help reduce risk!
Enhanced same day deposit and same day return collection services are provided to your institution level, not at the customer level. They are accomplished through any deposit cash letter submitted by your operations area that meets the expedited deadlines.
The expedited clearing services:
Ask your account executive about FedForward® 9:30 a.m. and noon ET deposit service and FedReturn® 12:30 p.m. ET deposit service.
Returns can be costly, especially when the funds are released before the return comes back. Consider expediting receipt of returns so you can help protect your institution and your customers!
Ask your account executive about the Accelerated Imaged Returns Delivery Service.
Request that we contact you (Off-site) regarding your interest in these check services.