bill payer alternatives:
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Bill Payer Alternatives:. MUG 2013 User Panel. (ACH Origination). ACH Origination. Wayne Savings Community Bank:. Established 1899 as the Wayne Building and Loan Company 1964 Wayne Savings and Loan Company 1997 Wayne Savings Community Bank 1993 Converted to Stock form of Ownership - PowerPoint PPT PresentationTRANSCRIPT
Bill Payer Alternatives:
MUG 2013 User Panel(ACH Origination)
Established 1899 as the Wayne Building and Loan Company 1964 Wayne Savings and Loan Company 1997 Wayne Savings Community Bank
1993 Converted to Stock form of Ownership NASDAQ WAYN
Corporate Office in Wooster, Ohio 405 Million in Assets 12 Branches – 116 Employees In House Customer – 9 Years with MISER
Wayne Savings Community Bank:
ACH Origination
Retain “Community” Ideals and Level of Service Stability Safety and Soundness Community-Minded
…At the Same Time…
Shed the “Traditional Thrift” Label Expand Commercial-based Products &
Services Appeal to Gen X, Y Customers Focus on Technology for Accessibility /
Efficiency
Bank Initiatives:
ACH Origination
Bill Pay-Per-View: METAVANTE vs. WAYNE SAVINGS
Core Workout: MISER’s 3rd Party Origination Programs
How to Score This Round: Unanimous Split Decision
Questions
Discussion Topics:
ACH Origination
Pays Non-Sufficient Funds
Polices Own Clients ACH or Check Payments Automatic Payment
Options Reminder Alerts User Notes Viewable eBill
Integration Ad Hoc Reporting / EOY
CD
METAVANTE vs. WAYNE SAVINGS
Cheaper Service to Maintain
Account Analysis Friendly NSF Fee Income AP Software Compatible Batch (en masse)
Payments Risk Management Tools
• Financial Institution• Originating Company
ACH Origination / Bill Pay-Per-View
Number of Online Business Banking Customers – LOW
Initial Setup Cost to Implement Bill Pay – HIGH Existing Bill Pay Solution (Consumer) –
AVAILABLE Potential Alternative (ACH Origination) –
PRESENT Pressure from Current Business Customers -
GROWING
Other Bus. Bill Pay Considerations:
ACH Origination / Bill Pay-Per-View
MISER’s 3rd Party Origination:
ACH Origination / Core Workout
3rd Party Master (TPM) Master Record for Company
3rd Party Company (TPC) Risk Management Processing
• Standard Entry Class (SEC) Code Limits 3rd Party Redeposit (TPR) 3rd Party Suspect (TPS) 3rd Party Totals History (TPMOT) + (TPMRT)
Download 3rd Party ACH Files – Business Online Banking Change File ID = H
Start WFL/001/3rdPARTYIN TWR016 – ACH Splitter Program TWD001 – Online ACH File Edit and Entry
Program TWD002 – Online ACH Posting Program
Start WFL/001/3rdPARTYOUT TWD007 – Online ACH 3rd Party Processing
Program TWR009 – 3rd Party NOC and Returned Items
Advices TWR010 – ACH Exception Advice Print
Program Send ACH File via Fedline Advantage (File ID =
B)
Our ACH Origination Process:
ACH Origination / Core Workout
Straight ACH Example:
ACH Origination / How to Score This Round
Addenda Record Example:If I choose to pay by ACH Credit, what information must I provide to ensure that my account is properly credited?
When formatting your ACH Credit payment, you must include your Tax Registration Certificate number (Taxpayer Account Number) in the ACH addenda record. Use the following format (example shown here):
000123456-0001-0-201201M-U004
In this example, 000123456-0001-0 is the account number, 201201M is the tax period and type (the first month of 2012), and the fund/class is U004.
ACH Origination / How to Score This Round
001 WAYNE SAVINGS BANK EDI TRANSACTIONS EXTRACTED TWD001 REPORT 04/15/13 RUN 04/15/13 PAGE 1 VERSION: 12.2.01 UPDATE TIME:07:45:10 RECEIVING POINT 2412-7204-0 WAYNE SAVINGS COMMUNITY SENDING POINT 7930-0013-4 ASF APPLICATION SUPERVI DATE 130412 TIME 20:17 ID D COMPANY NAME: 1CHAIRSRUS SERVICE CLASS : 200 EFF DATE: 130414 BATCH ID NBR: 54 COMPANY ID : 1122332814 STD ENTRY CLASS: CTX SETT DATE: 105 WH SEQ NBR : 12146272 ENTRY DESC : EDI DISB. DISCRTNARY DATA: DESC DATE: ORIG NBR : 0430-0009 TRACE NUMBER SEQ NBR TC TRAN/ROUT# ACCOUNT NUMBER INDIV ID NUMBER #ADN/INDIVIDUAL NAME DP A AMOUNT ----------------- -------- -- ---------- ----------------- --------------- ---------------------- -- - ----------- 0430-0009-2409604 12146273 22 24127204-0 8020123456 076543 0007 TABLETOP 1 471.13 *ADDENDA: 705ISA*00* *00* *08*9251251000 *01*043000096820 *130412*17000012409604 *ADDENDA: 7050*U*00401*000010855*0*P*>\GS*RA*4124874200*043000077820*20130412*1700*3417*X*00400022409604 *ADDENDA: 705010\ST*820*000000394\BPR*C*471.13*C*ACH*CTX*01*043301627*DA*1013636459*12518728100032409604 *ADDENDA: 7054**01*241272040*DA*8020123456*20130414*VEN\TRN*1*068082\CUR*2L*USD*0001*PE*USD\R00042409604 *ADDENDA: 705EF*IT*062782\DTM*097*20130412\N1*PR*1CHAIRSRUS\N1*PE*TABLETOP*FI*34-2233445\N3*900052409604 *ADDENDA: 70547 DEVILLE RD\N4*WADSWORTH*OH*44281*USA\ENT*1\RMR*OI*71623**471.13\REF*FR*89903300062409604 *ADDENDA: 705-6\DTM*003*20130211\SE*15*000000394\GE*1*3417\IEA*1*000010835\ 00072409604 *** BATCH ID NBR *** TOT ENTRY/ADDENDA TOT DEBITS TOT DEBIT AMT TOT CREDITS TOT CREDIT AMT 54 8 .00 1 471.13 *** FILE TOTALS *** TOT ENTRY/ADDENDA TOT DEBITS TOT DEBIT AMT TOT CREDITS TOT CREDIT AMT 8 .00 1 471.13
EDI Invoice Example:
ACH Origination / How to Score This Round
Questions?
ACH Origination / Questions
Thank You!Jeff King - Information Systems [email protected]
1) Acceptance Level of ACH Payments?2) Standard Method to Convey Billing Information?