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Business Banking Toolbox

Check Services

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:

  • Help your customers maximize available cash for investment and debt payments
  • Help protect your customers’ overall account structure; separate check transactions, in particular fraudulent transactions, from a customer’s main operating account
  • Enhance investment options for your corporate customers while also reducing risk

Ask your relationship manager 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.

  • Forward deposits made by 9:30 a.m. and noon ET are presented to the paying bank by 2:00 p.m. ET, thereby starting the return clock
    • Your institution receives credit same day
  • Outgoing return deposits being returned to the Bank of First Deposit (BOFD) made by 12:30 p.m. ET are delivered to the BOFD by 2:00 p.m. ET
    • Your institution receives settlement for the transaction same day

The expedited clearing services:

  • Expedite funds availability
  • Help reduce risk for your business customers and for the industry as a whole
  • Help reduce fraud exposure by clearing items a full day faster than regular deposit and return check clearing options
  • Help improve profitability for your customers especially when expediting high dollar checks

Ask your relationship manager 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!

With the check accelerated returns information service:

  • Receive a large proportion of your returns a day earlier than usual
  • Expedite the delivery of returned checks to your institution or to your processor
  • Reduce the chances of your institution suffering a financial loss
  • Get early return information even if you use a processor that processes returns beyond normal business hours

Let the accelerated returns information help your institution:

  • Gain early return knowledge
  • Post some returns before Reg. CC holds are released
  • Mitigate collection losses by having accelerated return knowledge
  • Provide an innovative and valuable service to your business customers

Help your business customers:

  • Reduce fraud exposure and the potential of financial losses
  • Enhance cash management collection efforts
  • Maximize their availability of funds

Ask your relationship manager about the Accelerated Imaged Returns Delivery Service.