Account Reconcilement Services
Provides control over a high volume of deposits from different locations.
- An assigned serial number is required in the MICR line of deposit tickets
- The serial number tracks and subtotals deposits made at various locations
- The customer receives a report from the bank with a list of deposits sorted by the assigned serial number
Reporting of all check/debit and deposit/credit transactions paid against your account during a specified cycle.
- The customer sends the bank an electronic file with check numbers, issue dates, and corresponding dollar amounts of all checks issued on a daily basis
- The bank compares issued check information to checks clearing and other transaction activity on the customer's account
- Reports may be produced to assist in balancing the account
Reporting of all checks/debits paid against your account during nightly processing.
- The bank delivers an electronic check paid report of checks paid to the customer
- Checks are listed in serial order number
Provides daily monitoring of all checking activity and allows for immediate decisions regarding possible fraudulent items.
- Prior to releasing checks, the customer uploads a file to the bank with an issue file containing check serial number, dollar amount and payee name of each item
- Items matching the issue file are paid and removed from the outstanding items file
- Items that do not match the issued file are identified as exceptions and presented to the customer for pay/no pay decisions
- Timely identification of altered and counterfeit checks allows them to be returned within the required 24-hour deadline
- Daily and monthly reconcilement reports are available
For more information, please contact us.