Federal Reserve clearing

CISI can clear your Check21 and ACH items, act as BOFD or ODFI, and then direct the funds to the banks and accounts you desire. There are a variety of reasons why such a service might add value to your processing environment. Corporate by-laws, regulatory issues or credit facilities may require a business to deposit to multiple banks. Or, your bank may not yet be FedForward capable or they do not wish to absorb the cost and integration of imaging technology.

If you are a bank, our systems are designed to manage your clearing requirements, not dictate them. We have the capability and stand ready to manage the clearing process until you are ready to move that process in-house.

Benefits:

• Consistent Funds Availability—2nd business morning availability into DDA
• Cutoff Times 8:00 PM CST for same day credit.
• Correspondent Banking—present Image Cash Letter direct to Fed.
• Flexible Funds Routing—multiple banks, multiple accounts
• Act as Bank First Deposit or hand off image cash letter to bank