FedReceipt® Services

FedReceipt Services allow financial institutions to use “straight-through” electronic check processing for a portion or all of your inclearings or inbound returns. You can reduce your check processing costs and resources by decreasing in-house sorting and image capture.

Meet your customers’ needs by offering check safekeeping, image statements and home banking products through electronic receipt.

The following FedReceipt products allow you to select the options needed to best serve your customers:

FedReceipt Plus (PDF)

Enables you to receive all imageable items drawn on your institution in an ICL in lieu of a paper cash letter presentment. This option offers cost reductions, earlier posting and improved balance reporting, elimination of transportation delays, the ability to create your own substitute checks and a discount on Reserve Bank deposits.

FedReceipt Plus for Returns

Enables you to receive an image cash letter of all items returned electronically in an image cash letter as well as all paper return items received that are imageable.

FedReceipt Plus Non-Imageable

Provides paying banks with near 100% electronic inclearings.  With this service the Federal Reserve Banks electronically present checks that are unable to be included in regular FedReceipt Plus ICLs.  Institutions will receive these checks in a separate electronic cash letter.  Items will contain all MICR data included on the original check and this will constitute presentment.  The electronic cash letter will also include the “best” image of the item available.  No paper items follow this electronic cash letter. A signed service agreement (PDF) is necessary.

FedReceipt (PDF)

Enables “straight-through” electronic check processing for a portion of your inclearings. This service option offers cost reductions, the ability to create your own substitute checks, and no cost presentment of items deposited with Federal Reserve Banks in ICLs.

FedReceipt Return (PDF)

Offers a bank of first deposit (BOFD) the ability to receive return items in an image return letter.

FedReceipt/FedReceipt Plus with FedImage Archive and Retrieval (PDF)

Provides a central archive for your check images and the ability for you and your customers to view or receive any image on demand.

Discover the benefits of FedReceipt Services

  • Cost reductions
  • Earlier posting and improved balance reporting
  • Elimination of transportation delays
  • Freedom to create your own substitute checks
  • Discount on Federal Reserve Bank deposits (applies to FedReceipt Plus Services only)
  • Easily accessible customer service from knowledgeable support groups
  • Plus additional benefits highlighted in the FedReceipt Services product sheet (PDF)

Read what customers say about the service

“The FedReceipt Plus Non-Imageable Service is an excellent option for us to reach the final mile of end-to-end electronic check processing .”

--Orlando Mesa, Senior Vice President at Union Bank, N.A.

“The combination of FedForward and FedReceipt Plus Services helped us eliminate over $125,000 a year in third-party processing and courier costs."

– Mark Miller, Executive Vice President and Director of Operations at Premier Bank
View the video online

Read more case studies

To start using this service, visit the FedReceipt setup page or contact your account executive

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