The Federal Reserve Banks are pleased to announce that beginning in early 2019, FedACH® Services customers will have the ability to manage Automated Clearing House (ACH) exception cases through a new Exception Resolution Service, available via the FedLine Web® or FedLine Advantage® Solutions. The Exception Resolution Service was developed in response to customer feedback about the current challenges surrounding the resolution of ACH exception cases defined as disputes, notifications, questions or requests for additional information.
Currently, ACH exceptions are often handled using facsimile, phone, email and paper mail to communicate and exchange supporting documentation between originating and receiving financial institutions. Starting next year, the Exception Resolution Service will provide a simpler, more streamlined and secure option for handling ACH exceptions. FedACH Services customers will be able to manage (open, respond, close and cancel) ACH exception cases with other FedACH customers.
The Exception Resolution Service enables FedACH customers enrolled in the service to resolve ACH exceptions more directly with other enrolled FedACH customers by eliminating the need to determine a contact at another institution and by providing for the secure exchange of supporting documentation. If the intended recipient of the case is not enrolled in the Exception Resolution Service, the exception case will need to be handled via one of the methods currently available.
Information about how to sign up will be available soon. Pricing details can be found on the FedACH Services fee schedule. If you have any questions about the service, please contact your account executive.