Presentment Point Services
Federal Reserve Financial Services' Presentment Point Services allow financial institutions to designate a Federal Reserve Bank as the primary or alternate
presentment point for all, or certain, checks drawn on your institution. The descriptions below provide more information about each of the Presentment Point
Services.
Discover the options available within Presentment Point Services
- Basic Primary Presentment Point Service - The paying bank designates the Federal Reserve Bank as the primary presentment point for all checks drawn on that
bank. The product includes handling of items only; it does not include processing, transportation of checks to the bank's processing center, functioning
accounting entries (settlement), or handling adjustments for same day settlement packages.
- Enhanced Primary Presentment Point Service - The paying bank designates the Federal Reserve Bank as the primary presentment point for all
checks drawn on that bank. The product includes handling of items, along with identification of the collecting bank, total amount of items presented, and
the time the checks were received. It does not include high speed processing, transportation of checks to the bank's processing center, functioning
accounting entries (settlement), or handling adjustments for same day settlement packages.
- Basic Alternate Presentment Point Service - The paying bank designates its local Reserve office, or another Reserve Bank office, as an
alternate presentment point for checks. The product includes handling of items only. It does not include high-speed processing, transportation of checks to
the bank's processing center, functioning accounting entries (settlement), or handling adjustments for same day settlement packages.
- Enhanced Alternate Presentment Point Service - The paying bank designates its local Reserve office, or another Reserve Bank office, as an
alternate presentment point for checks. The product includes handling of items, identification of the collecting bank, total amount of the checks
presented, and the time the checks were received. It does not include high speed processing, transportation of checks to the bank's processing center,
functioning accounting entries (settlement), or handling adjustments for same day settlement packages.
To learn more about these services contact your account executive.