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Daily Carrier Run Frequently Asked Questions
Frequently Asked Questions
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Currency Questions
- Will the order process change for depository institutions (DIs)?
- How has the special order process changed?
- Is this a blanket requirement for all ordering DIs?
- What is an order date?
- What is a shipment date?
- What is a delivery date?
- At what point in the order process will the DI's account be debited?
- If a DI inadvertently selected a shipment date when its carrier was not scheduled to perform a pick-up at the Federal Reserve, and the DI's account is debited even though the order was not picked up, at what point will the DI's account be credited?
- When will this change to the Daily Carrier Run procedure begin?
Q: Will the order process change for depository institutions (DIs)?
A: For DIs that currently have "daily" carrier run, there is no change to the process. For those DIs that have a specific day or days of the week that they can place orders, they will now be required to enter the ship date. Consequently, DIs will now be able to order each business day of the week regardless of its established armored carrier schedule.
Q: How has the special order process changed?
A: With the implementation of a "daily" or a five business day ordering period, DIs are no longer required to notify the servicing Federal Reserve Bank when placing orders outside of its normal armored carrier schedule. However, DIs are required to make special arrangements with their armored carrier to ensure pick-up and delivery occurs on the scheduled date. Fees may be assessed by the armored carrier for additional or special arrangement situations.
Q: Is this a blanket requirement for all ordering DIs?
A: Yes. Daily Carrier Run (DCR) will apply to orders entered by a DI, File Upload, or Order for/Order by relationships.
A: The order date is the day the DI places an order using the FedLine Web® access solution
A: The shipment date is the day the order is available for the DI's armored carrier to pick-up from the Federal Reserve Bank. It is the DI's responsibility to ensure the selected shipment date is also its armored carrier's scheduled pick-up date from the Federal Reserve Bank.
A: The delivery date is the date the DI's armored carrier delivers the order to the DI. Please note that the delivery date is strictly an arrangement between the DI and its armored carrier.
Q: At what point in the order process will the DI's account be debited?
A: The DI's account is debited the morning of the day the DI selected as its shipment date
Q: If a DI inadvertently selected a shipment date when its carrier was not scheduled to perform a pick-up at the Federal Reserve, and the DI's account is debited even though the order was not picked up, at what point will the DI's account be credited?
A: The DI's account will be credited at the close of the business day at the servicing Federal Reserve Bank. The next business day, the order will again be available for pick-up; therefore, the DI's account will be debited for the amount of the order. If the carrier is not able to pick-up the order on the next business day, it is recommended that the DI contact the servicing Federal Reserve Bank to have the order cancelled.
Q: When will this change to the Daily Carrier Run procedure begin?
A: A pilot for DCR functionality began in October 2011 in two Federal Reserve Bank offices, Richmond and Kansas City. Federal Reserve Banks are beginning a broader roll-out of DCR in early 2012, with the goal of having all Federal Reserve Offices compliant with the new process by January 1, 2013.
