FedReturn Services provide financial institutions with the ability to deposit mixed image cash letters (ICLs) of return items. The Federal Reserve Banks will process the items electronically and return either an electronic file, a PDF file or substitute checks to the bank of first deposit (BOFD). This service allows you to transform your outbound returns processing operations to reduce risk, streamline backroom operations, improve quality and speed the returns process while realizing substantial operating savings.
Discover the benefits of FedReturn Services
- Elimination of physical document handling
- Reduced exception processing
- Reduced backroom costs
- Reduced or eliminated transportation costs