Deposit
Reconciliation
Reduce the time you spend manually
sorting and tracking checks and deposits with the automated Account
Reconciliation Service.
The Account Reconciliation Service
features:
Plan 1
Benefiting companies processing fewer than 500 items per month.
Plan 1 includes: During a designated reconciliation period, displays
check number, paid date, amount, and control number.
Plan 2
Benefiting organizations that require additional control, accuracy,
and ease of reconciliation without the use of electronic media.
Plan 2 includes:
Ascending numerical listing of paid checks. Displays check number, paid
date, amount, control number. Includes outstanding check numbers (starting
and ending check numbers of the reconciliation period, plus additions
and deletions to the outstanding check list are provided by the customer).
Exception reports. Duplicate check numbers paid. Check numbers paid
not falling into the check number range (range provided by the customer)
Plan 3
Ensuring the most efficient management of high check volume account,
Plan 3 includes all the benefits and features for Plan 2 plus the following:
Separate numerical listings of checks paid, checks outstanding, and
complete exception reporting (customers provide issued information via
transmission or magnetic tape).
Plan 9
Providing the basics of account reconciliation, Plan 9 includes: Ascending
numerical listing of deposits by reference number and amount during
a designated reconciliation period.
The bank performs the labor intensive
function of reconciliation of checks issued to paid checks, and saves
you the cost of staff and overtime to perform this tedious task.
A cost-effective service, the Account
Reconciliation Service can be tailored to meet the needs of your organization.
A feature called Positive Pay can reduce
your company's exposure to fraud or stolen checks. You provide FENB
with your issued items and on a daily basis this information will be
compared against the checks paying each day. If the check number and
amount are not on the issued list, the check is returned immediately.
This saves you the cost of stop payment fees and provides you with a low
cost peace of mind.