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Activate Your FedACH Risk® Management Services Today
The Federal Reserve Banks strongly encourage every depository financial institution to make effective risk management a top priority. Request that we contact you regarding your interest in FedACH Risk Management Services. Explore the benefits to your institution by checking out the product pages:
- Risk Origination Monitoring Service for ODFIs
- Risk RDFI Alert Service for RDFIs
- Risk Returns Reporting service for ODFIs
Exciting Enhancements to the RDFI Alert Service Create New Benefits
Seven FedACH fields are your clues to incoming transactions:
mix and match them to create incoming batch, file or item alert notification criteria tailored to meet specific information needs
The usual suspects:
easily identify incoming batches from any originator the RDFI chooses, such as those with past quality problems, by building alert notification criteria based on company ID, company name and/or company entry description
Don’t keep customers waiting for information of value to them:
automate e-mail notifications by creating item-level alerts and sending them automatically to designated contacts at key accounts
Find the needle, that one bit of critical information, before it gets lost with all the other transaction data:
build targeted alert notification criteria to get the information you need and use the drill down features of new research screens to zero in on the details of any notification e-mails received.
Investigate receipt risk with RDFI Alert – read all about it
Easy Activation Steps
- One easy way to activate these services is to attend a complimentary FedACH Risk Activation Teleseminar. During this teleseminar, we will provide an overview of the process for activating your institution’s access to FedACH Risk Management Services. Register online here.
- Complete the appropriate sign-up forms and, if appropriate, obtain the special subscriber credentials required for the FedACH Risk Origination Monitoring Service.
- Fill out the appropriate sections of the FedACH® Participation Agreement:
- Find the full FedACH Participation Agreement online at http://www.frbservices.org/forms/fedach_services.html
- For your convenience, links directly to the appropriate parts of the FedACH Participation Agreement are provided below. A person on your institution’s Official Authorization List (OAL) must sign these forms.
- FedACH Participation Agreement, Part 6B for the FedACH Risk Origination Monitoring Service.
- FedACH Participation Agreement, Part 6C for the FedACH Risk RDFI Alert.
- Additionally, for the FedACH Origination Risk Monitoring Service, have your institution’s end user authorization contact (EUAC) request the appropriate FedLine® access subscriber credentials via the online External Subscriber Access Request form. Although you may already be using one of our FedLine Access Solutions, adding or modifying services can change your access requirements. The FedACH Risk Origination Monitoring Service is one of the services that requires service-specific access credentials. You have a choice of several types of access, or roles. It is critical that your organization have credentialed staff members assigned the role of releasing or rejecting any batches that pend once management criteria for the service are in place. Please note that if you elect to assign the dual control role for setting and editing criteria, you must have a minimum of two staff members assigned this role.
- Fill out the appropriate sections of the FedACH® Participation Agreement:
- Set your monitoring criteria. Reference the "Getting Started Guide for Setting Monitoring Criteria" for help with determining approaches for your institution. Reference the "FedACH Risk Origination Monitoring Service Setting Criteria Handbook" or the “FedACH Risk RDFI Alert Service Setting Criteria Handbook”
for step-by-step instructions and tips on entering monitoring criteria into the FedLine Access Solution screens for the Risk Origination Monitoring Service and for the RDFI Alert Service.
Learn More
FRBservices.org provides you with a variety of helpful information about FedACH services including the FedACH Risk Management Services. Links to some useful resources are provided below.
- Contact me about FedACH Risk Management Services
- Product Details
- Online Seminar: Shedding Light on ACH Risk
- Tutorials
- Frequently Asked Questions (FAQ)
- FedACH Operations Resources
You can fax your completed FedACH agreements to your Central Operations Support Site. Contact numbers for your FedACH Central Operations Support Sites are listed below.
| Central Operations Support Site | Reserve Banks Supported |
|---|---|
Atlanta Email: FedACHAgreements@atl.frb.org Fax: (612) 629-4204 Testing |
Boston (1) |
Minneapolis FedACH Service Setup Testing |
St. Louis (8) |
For more information about FedACH Risk Management Services, contact your FedACH Sales Specialist or use My FedDirectory® for a list of service and support contacts who can assist you.
