Federal Reserve Banks accept only genuine, U.S. currency for deposit. Deposits of the following are NOT accepted at the Federal Reserve Banks:
Organizations should forward counterfeit or unlawfully altered currency directly to their local U.S. Secret Service office. If the Federal Reserve Banks detect counterfeit or unlawfully altered currency in an organization’s deposit, it is forwarded to the Secret Service, and the organization is charged for the difference.
Employees preparing currency for deposit with the Federal Reserve Banks should reference the following Deposit Quality Standards periodically to ensure your organization is following the proper procedures.
Currency Deposit Quality Standards:
For details about currency depositing procedures, please refer to the Cash Services Manual of Procedures. To view examples of correct and incorrect deposit procedures, please refer to the Deposit Visual Reference Guide.
In accordance with the Federal Reserve’s Recirculation Policy, organizations should carefully review their deposit and order practices to avoid cross-shipping or, in cases where cross-shipping is necessary, plan for payment of a Recirculation Fee.
A cross-shipping fee is charged to organizations that deposit fit $10 or $20 notes at a Federal Reserve Bank and then order the same denomination, above a de minimis amount, during the same business week within a Federal Reserve Bank Zone or Sub-zone.
Please refer to the Currency Recirculation Policy for details.
For each endpoint, normal cash service is one deposit and one order of currency per week. The Federal Reserve Bank recognizes that factors such as volume and cost may require less frequent service to some endpoints and more frequent service to others.
We may, at our discretion, reduce cash orders to maintain currency inventories. The Federal Reserve Bank may refuse deposits, defer or reverse credit, and/or return deposits if a Depository organization fails to comply with any of the terms of Operating Circular 2. Returns are at the Depository organization's risk and expense.
Please refer to the Uniform Cash Access Policy (UCAP) (PDF) for additional information.
Two optional FedLine® access levels, the Deposit Notification (DN) Only for Depository Institutions (DI) access level; and the DN Only for Armored Carriers (AC) access level, are available to FedCash customers who submit deposits in the following Districts: Atlanta, Minneapolis, Kansas City and San Francisco.
These optional access levels allow organizations to limit a Subscriber’s access to only depositing functionality. For example, a Subscriber with one of these access levels can enter deposit notifications and view deposit reports for specific endpoints to which they have been granted access by a Subscriber at the organization with the Administrator access level. Below is a description for each access level and the process for signing up to use these access levels.
The DN Only for DI access level allows a DI to restrict its Subscribers’ access to depositing functionality only for certain endpoints. Access to each endpoint must be approved by a Subscriber with the Administrator access level for the endpoint. The access level restricts an employee who enters deposit notifications from also entering orders. This access level also provides an organization with additional flexibility in assigning access to staff members based on their responsibilities. For example, if a Subscriber has the responsibility to enter orders and deposits for the DI, the DI can request the existing “User” access level for the Subscriber. If a Subscriber’s responsibility is limited to entering deposit notifications, the DI can request the DN Only for DI access level for the Subscriber.
The DN Only for AC access level allows a Subscriber at an armored carrier, with a DI’s consent1, to submit deposit notifications on behalf of the DI. With this access level, the armored carrier can enter deposits and view deposit reports for specific DI endpoints, but an armored carrier’s Subscriber can not enter orders for the DI’s endpoints. In addition, a Subscriber at the DI can view reports of deposits that the armored carrier entered on its behalf.
1The armored carrier’s access to each endpoint must be approved by a Subscriber at the DI with the Administrator access level for the endpoint.
If a DI would like an armored carrier to submit deposit notifications on its behalf, then the DI should work with its carrier(s) to sign-up for the access level using the following process.
Note: If the AC does not have a CIN or OAL on file, please contact the following representatives for assistance.
For the CIN setup process, contact your local FedCash Services District Contact for assistance. (Note: This process may take 5 – 7 business days.)
For the OAL setup process, contact the Federal Reserve’s San Francisco Accounting Department at (800) 309-6156. (Note: This process may take up to 30 business days.)
If you have questions about the sign up process, the EUAC form or submitting Subscriber requests via the EUAC Center, contact the Customer Contact Center (CCC) at (888) 333-7010.
If you have questions regarding the DN Only access levels, contact your local FedCash Services District Contact.
The armored carrier’s access to each endpoint must be approved by a Subscriber at the DI with the Administrator access level for the endpoint.
Deposit Difference Reports and electronic Cash Difference Advices offer a more secure, expedient and streamlined delivery of Cash Difference Advices. The current Cash Difference Advices are mailed to your organization by the servicing Federal Reserve Bank and include a Cash Difference Advice and a printed strap image. With the Deposit Difference Reports and electronic Cash Difference Advices, your deposit difference information will be available electronically in a more organized format with a larger digital image, making it clearer and easier to read.
The Federal Reserve System is in process of rolling out the FedCash Deposit Difference Reports via the FedLine Web® access solution and Cash Difference Advices via our FedMail® Service, which enables DIs to access their deposit differences and strap images electronically, replacing today’s mailed paper differences. The Deposit Difference Reports is already accessible to many DIs today, and the remaining organizations will be able to use this functionality in the near future. In addition, in 2016, DIs will be able to begin signing up for FedMail to receive their differences via email. The rollout is currently occurring in waves, and the Federal Reserve will communicate to each wave of customers when it is their time to adopt the new functionality.
Standard units for depositing and ordering are as follows:
(1,000 Notes/10 Straps)
|Standard ABA Color Code|
Organizations may order currency via FedLine® Web.
Address comments and questions to the Federal Reserve Bank Services Webmaster.
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