The FedPayments Reporter Service for Check offers Financial Institutions reporting capabilities for checks processed by the Federal Reserve Banks. Reports available within the service are delivered to the recipient in encrypted emails sent by the Federal Reserve Banks.
|Report||Description and Use Cases|
|DFI – Check Advanced Notice Return Report||
The Check Advanced Notice Return Report provides the Bank of First Deposit (BOFD) with advanced notice of return items that will be delivered to it in an electronic return cash letter sent by the Federal Reserve Banks. At the time the report is generated, it will contain a listing of returns available — received and validated by the Federal Reserve Banks. The report is currently available to financial institutions that receive separately sorted electronic cash letters (i.e., return cash letters that contain items drawn on one institution).
The timing of Return cash letters sent to a BOFD may be problematic when the BOFD must release Regulation CC holds on a deposited check at the open of business on the second day following deposit. This report enables the BOFD to assess the impact of a check return item potentially as early as the afternoon before it would normally be presented. The BOFD may be able to extend funds availability holds to reduce risk of loss.
The Excel version at 2 p.m. ET for the entire prior processing day may also be used to track return data and trending.
|DFI – Check Advanced Notice Payor Report||
The Check Advanced Notice Payor Report provides the paying institution with advanced notice of forward presentment items that will be delivered to it in an electronic cash letter sent by the Federal Reserve Banks. At the time the report is generated, it will contain a listing of electronic forward items available – received, validated and optionally repaired by the Federal Reserve Banks.
This report offers early awareness of large checks the evening before they settle, for cash management and potential customer fraud impact.
|Corporate Payor Report||
This report is a Reverse Positive Pay and Controlled Disbursement option that allows corporate customers to review check details the morning of presentment via a secured email push.
A PDF of the check image offers corporates the opportunity to look for altered checks. Early delivery helps business customers meet return timeframes and corporate cash managers make informed funding decisions.
Reports are available in two formats, Microsoft® Excel® (xlsx) and PDF:
The DFI Level Check Advanced Notice Return and DFI Level Check Advanced Notice Payor Reports can be scheduled at 4:30 p.m. ET, 5:30 p.m. ET, and on the hour between 4 p.m. – 2 p.m. ET Monday through Friday, excluding bank holidays. They are also available at 6 a.m. ET on Saturday. Reports deliveries for DFI Reports are scheduled via the Check 21 Services Agreement FedPayments Reporter (PDF).
The Corporate Level Check Advanced Notice Payor Report can be scheduled for 10 a.m. ET and/or 12 p.m. ET each weekday, excluding bank holidays. It is self-administered through the FedPayments Reporter screens that are accessible in FedACH® through FedLine Web® or FedLine Advantage®.
Reports can be scheduled for creation and delivery at the beginning of each hour (unless indicated otherwise below) during the following periods (Eastern Time):
|Day 0 and Time||Day 1 and Time|
|Report Name||4 p.m.||4:30 p.m.||5 p.m.||5:30 p.m.||6 p.m. - 12 a.m.||12 a.m. - 2 p.m.|
|DFI - Advanced Notice Return Report|
|DFI - Advanced Notice Payor Report|
|Corporate - Payor Report||10 a.m. and 12 p.m.|
DFI - Advanced Notice Return Report and DFI - Advanced Notice Payor Report at 6 a.m.
Customers need to submit a FedMail® Request Form for the Check 21 FedPayments Reporter Service to add the email addresses for delivery of the DFI Level Advanced Notice Reports, as well as the Check 21 Services Agreement FedPayments Reporter (PDF) to activate the DFI and Corporate report.
The report is available to financial institutions that receive separately sorted electronic cash letters (i.e., return cash letters that contain items drawn on one institution).