FedPayments^® Reporter Service for Check Services Setup

Thank you for choosing the FedPayments Reporter Service for Check. We are ready to work with you to make this a smooth and easy transition. Following are the steps to take to streamline your implementation process, including contacts to help you with questions at any step along the way. Depending on the access solution and services to which you already subscribe, you may be able to omit several of these steps. Read the steps carefully to determine which apply to you. If you need advice or assistance at any step of the process, consult your account executive.

Step 1 – Review Rules and Regulations

Federal Reserve Financial Services use is governed by applicable Operating Circulars. In addition, the Board of Governors of the Federal Reserve System has responsibility for implementing certain laws pertaining to a wide range of banking and financial activities. The following apply to Check Services.

Operating Circulars

• Operating Circular 3: Collection of Cash Items and Returned Checks
• Operating Circular 5: Electronic Access – covers terms for electronically accessing Federal Reserve Financial Services

Regulations

• Regulation J – establishes procedures, duties and responsibilities among Federal Reserve Banks, the senders and payors of checks and other items
• Regulation CC – includes regulations concerning availability of funds

Step 2 – Complete Forms/Agreements

Now that you've determined your access solution, service feature and Subscriber needs, you can proceed to document all your decisions in the required forms.

• Ensure that your organization has submitted Board Resolution and Official Authorization List (OAL) using the standard form required by the Federal Reserve Banks
• Customers will need to submit a FedMail^® Request Form for the Check 21 FedPayments Reporter Service to add the email addresses for delivery of the reports, and the Check 21 Services Agreement FedPayments Reporter - Service Request Form (PDF), which includes the information necessary to configure and schedule the report(s). The terms and conditions related to the service are included in Appendix J of Operating Circular 3 (Collection of Cash Items and Returned Checks).

Questions? Contact FedACH^® and Check Services Customer Support.

Step 3 – Congratulations! Begin using your new Federal Reserve Financial Services

You can begin using the FedPayments Reporter Service for Check.

Top of Page