FedCash® Services Currency Depositing and Ordering

Deposit Process and Standards

Federal Reserve Banks accept only genuine, U.S. currency for deposit. Deposits of the following are NOT accepted at the Federal Reserve Banks:

  • Foreign currency
  • Mutilated currency
  • Counterfeit or unlawfully altered currency

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:

  • Use only clear plastic bags or clear plastic or metal containers that bear your organization’s identification (logo and/or name)
  • Bags/containers must be securely sealed. Bag seals must be tamper-evident
  • Bundle the currency by denomination in ten equal straps (100 notes in each strap). A full bag may not contain more than 16 bundles
  • $1 through $20 denominations must be deposited in full bundles
  • $50 and $100 denominations may be deposited in full straps or full bundles
  • For all denominations, bands must be arranged within the bundle so that all of your stamps within the bundle are facing in one direction. For $50 and $100 denominations your stamp must be placed on the back outside of the band.
  • Bands must be color-coded along the edges according to ABA standards
  • Banding material must be between 1.00 to 1.57 inches wide, with an approximate weight of 100 g/sqm, and made of paper (not synthetic materials)
  • Each band must be stamped with your organization’s name and ABA routing number, the four-digit endpoint number of the depositing office, dollar amount in the strap, initials or names of the persons who verified the strap, and date of verification
  • Remove any pins, clips, staples, or rubber bands
  • Your servicing Reserve Bank requires you to include a deposit document, or ticket, with your deposit or provide an electronic notification. Consult your local FedCash Services contact for details.

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.

Cross-shipping

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.

Frequency of Service

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.

Deposit Notification Access Levels for Depository Institutions and Armored Carriers for Atlanta, Minneapolis, Kansas City and San Francisco

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.

DN Only for DI Access Level

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.

Sign-up for a DN Only for DI Access Level

  1. To use the DN Only for DI access level, organizations must have an Official Authorization List (OAL) on file with the Federal Reserve Banks and have access to the FedLine Web® access solution.
  2. To set up Subscribers for the DN Only for DI access level, please submit a Subscriber request via the EUAC Center within FedLine Home.
  3. DIs must also have at least one Subscriber with the FedCash Administrator access level who has access to necessary endpoints. To set up Subscribers for the Administrator access level, please submit a Subscriber request via the EUAC Center within FedLine Home.

DN Only for AC Access Level

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.

Sign-up for a DN Only for AC Access Level

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.

ACs:

  1. To use the DN Only for ACs access level, the armored carrier must have a 9-digit Customer Identification Number (CIN) and an Official Authorization List (OAL) on file with the Federal Reserve Banks, as well as access to the FedLine Web access solution.

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.)

  1. The AC also needs to have a minimum of two defined End User Authorization Contact (EUAC) on file. If the AC does not have an EUAC, please complete, sign and submit the Federal Reserve Bank End User Authorization Contact (EUAC) Form for FedLine Web® (PDF).
  2. To set up armored carrier Subscribers for the DN Only for AC access level, the armored carrier's EUAC will need to submit a Subscriber request via the EUAC Center within FedLine Home.

DIs:

  1. DIs must have at least one Subscriber with the FedCash “Administrator” access level for necessary endpoints. (To set up Subscribers for the Administrator access level, please submit a Subscriber request via the EUAC Center within FedLine Home.)
  2. Once an armored carrier Subscriber obtains the DN Only access level, the DI Administrator must grant endpoint access in order for the armored carrier Subscriber to begin entering deposits on the DI’s behalf.

Additional information

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.

Electronic Deposit Difference Delivery

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.

For more information, view the FedCash® Services Deposit Difference Reports and Electronic Cash Difference Advices Resource Center.

Standard Depositing and Ordering Units

Standard units for depositing and ordering are as follows:

Denomination Standard Strap
(100 Notes)

Dollar Amount
Standard Bundle
(1,000 Notes/10 Straps)

Dollar Amount
Standard ABA Color Code
Ones N/A $1,000 Blue
Twos N/A $2,000 Green
Fives N/A $5,000 Red
Tens N/A $10,000 Yellow
Twenties N/A $20,000 Violet
Fifties $5,000 $50,000 Brown
Hundreds $10,000 $100,000 Mustard

Access to Currency and Depositing

Organizations may order currency via FedLine® Web.

For more information about FedCash Services processing and operations, visit the service offerings pages or consult your local FedCash Services contact.

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