Leverages the Federal Reserve Banks' FedMail® Service to allow check-processing organizations subscribing to FedMail to provide timely notice and contact information about duplicate file events to other FedMail Subscribers. All organizations currently subscribing to FedMail can take advantage of this service. This service is recommended for use when incidents result in 50 or more duplicate items.
Provides your institution near real-time summary of your Fed account and detailed information on most transactions (including check debits and credits)
Enables you to offer your corporate customers a controlled disbursement (CDA) cash management option with a final check presentment at a set time every morning
Allows you to elect to receive early delivery (between 7-11 p.m.) of your first forward FedReceipt® Plus file of the processing day, enabling you to speed settlement of checks and identify returns and fraudulent items much earlier in order to initiate returns sooner
Provides you the opportunity as a bank of first deposit (BOFD) to receive some of your incoming returns earlier than you do today, which may help address the risk of releasing funds to your depositor before you receive a returned item
Provides early notice of poor or fraudulent origination practices with threshold-based research on invalid and unauthorized returns
Facilitates access to a single day of payment information to expedite returns and enables a RDFI to build a database of payment transactions
Improves transparency in the ACH payment process by providing near real-time data for ACH processing batch/file data, including originator/RTN settlement notification