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  • 1. When are the ACH debits and credits posted? Views: 258
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    Once the ACH file is received from the Federal Reserve, the ACH file is uploaded to CU*BASE. To see details of the upload process, refer to the related items and links listed. The CU*Answers Operations team recieves and processes ACH files four times a day. The credit union configuration determines whether your credit union posts credits, debits, both credits and debits, or neither. On occasions, a client may request to have their ACH debits or credits posted early. Please contact a Client   More...
  • 2. Is there a cutoff time to have my Federal ACH Return/NOC items submitted to CU*Answers? Views: 101
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    Yes there is. At 2:30 p.m. EST each normal business day, CU*Answers processes the ACHNOC items for all credit unions, and sends a combined file transmission to the Federal Reserve. Any work submitted by the credit union after 2:30 p.m. EST will be processed the next business day.
  • 3. Can CU*Answers originate ACH items? Views: 78
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    Yes, Although CU*Answers is not an ACH Originator, through Xtend, Inc. we support a variety of ACH Origination strategies using Magic Wrighter as a business partner. The Magic-Wrighter ACH Origination and electronic payments services have many common and unique transaction processing features, and are utilized by dozens of credit unions. Your large corporate and your small business customers can select the services that best suits their needs. Best of all, ACH Origination provides exciting new  More...
  • 4. What controls are in place for CU*Answers Operations to help make sure ACH files are posted correctly? Views: 53
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    In addition to standard operating procedures, checklists, and ongoing training and oversight, the software tools that our Operators use have some built-in controls that help ensure proper processing: When receiving an ACH posting file, the system will prompt the Operator to check debit and credit totals before they proceed into the warehouse (ACHSUS) file. The posting program prompts the Operator to select extraction criteria (debits only, credits only, or both) and a processing date. Only item  More...
  • 5. Will CU*BASE provide payroll posting options? Views: 52
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    Yes. CU*BASE is designed to handle any type of payroll including ACH, paper listings, magnetic tapes, diskettes and more. Depending upon the method of payroll being received will determine the manner in which it is processed. Payrolls may be warehoused and scheduled to automatically post on any date desired, and provides a variety of distribution options.
  • 6. Does CU*Answers support clients using their own Fedline terminal? Views: 39
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    Yes, CU*Answers supports many CU*BASE clients having their own internal Fedline terminal. In many cases, they have these terminals for performing additional Fed functions. If your credit union has its own Fedline terminal, or you have another vendor assist with your ACH activity, an automated upload of your daily ACH file to CU*Answers will be developed. You may then utilize the CU*BASE ACH Exception Processing system to create your daily return and NOC requests. When done for the day, simply p  More...
  • 7. Will CU*BASE support distributions to multiple member accounts? Views: 37
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    Yes, payroll funds (received by any method) may be distributed to any other account, including other members accounts once they have been deposited into a chosen base deposit account. For example, a member could have funds transferred to a Christmas Club account, children's accounts or make a payment on a loan.
  • 8. Can CU*Answer support payrolls submitted by tape or transmission? Views: 20
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    Yes, both.
  • 9. Are there specific format requirements for incoming tapes from insurance and payroll vendors, or will CU*Answers support other existing formats? Views: 13
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    Generally, format requires FTP for insurance tapes and vendors, however CU*Answers will bid out special client requests as desired.
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