Fiserv evaluates payment direction based on a proprietary algorithm that takes into account many factors. Some evaluation is done at the sponsor level, some at the merchant level, and some at the subscriber level. Sponsor level information determines what check types are acceptable – draft only or draft and corporate. Merchant level information determines the preferred payment method for that payee (electronic or paper) and if the merchant assumes responsibility for returns. Subscriber  More...

If the transaction was performed the same day, reverse using Tool #31 Reverse Tran/Adjust Tlr Drawer (Same Day) and then rerun transaction correctly. If the transaction was performed on a previous date, reverse using Tool #354 Effective-Dated Transfers . CU*BASE will automatically adjust the dividend/interest amounts for you. If you want to be able to override the dividend/interest amounts, use Tool #353 Effective-Dated Account Adjustment instead.

On the Teller Deposits/Withdrawals screen, you can use one of the following Process Codes (enter the code into the far-right Proc Code column next to the loan account): L - Use this code to post the ENTIRE deposit amount to principal X - Use this code to override the default payment matrix and specify exactly how the payment amount should be distributed between principal, interest, escrow, fine, etc. For more details, click on the links below to open related online help topics. NOTE:   More...

Prior to the 16.10 release, the SSA began using multiple Company IDs, and it was recommended that credit unions consider using Automated Funds Transfers (AFTs) to handle distributions. Beginning the 16.10 release a new cross-reference system will be implemented that will automatically funnel all incoming company IDs from the Social Security Administration and treat them as if they came from one, consistent company ID we’re referring to as the “Primary ID.” With the changes ma  More...

The fields are related to Process Codes, in that they are derived from the code attached to the message received from the plastics processor (vendor, or switch). The Type you see in the initial Type column of the Activity screen relates directly to the Transaction Description when you view additional transaction details. Transaction types may not apply to all vendors. Examples of these labels are as follows: DEP (Deposit Transactions) ATM/DEP A deposit made at an ATM. ATM/DEP - including a $  More...

With the Effective Date Account Adjustment feature, you can post an adjustment with an effective date in the past. This feature can be used to post a transaction to a member’s account and have the system automatically calculate the adjustment to interest or paid dividends according to the effective date of the adjustment. In a nutshell, it effectively back-dates simple, common types of transactions with a notation in transaction history indicating the effective date. It currently works o  More...

With the 16.10 release a new cross-reference system was implemented that automatically funnels all incoming company IDs from the Social Security Administration and treat them as if they came from one, consistent company ID we’re referring to as the “Primary ID.” In cases where the Depositor ID is the same, for example a husband and wife, these ACH transactions will be handled by the same master ACH distribution record under the Depositor ID since duplicate Depositor IDs are no  More...

No, CU*BASE cannot automatically remove the 08 Payment Stopped code from an ACH distribution record. ACH stop payments are tricky. Since an ACH stop payment is only valid for a specific payment, the system would have no way to determine which payment it was applicable for as it’s not easily identified by simply using the posting date. Often the information needed is located in other optional fields of the ACH record such as company descriptive date. For instance, if a member is NSF for  More...

No. This law actually pertains to merchant card programs where the merchant is collecting payments for services and goods sold. Since we do not run merchant programs on our platform, this reporting requirement does not apply to us.

The system will advance the next payment due date depending on the payments made during the “payment period” window, which runs from due date to due date (which is not always calendar month). Once the next payment period begins, any payments made will count towards the payment amount due until it is fully satisfied, at which point the due date will advance to the next payment period. Payments may still be made during the current payment period; however, any overpayments will be c  More...

The large loan payment was applied as a principal-only payment, which does not move the next payment due date on the loan. When the payment was reversed using the 95 reverse loan payment code, the due date was backed up and made the loan delinquent. That evening, the Auto Funds Transfer system tried to satisfy the delinquency on the loan because the delinquency control flag was turned on in the AFT record. Whenever you reverse a loan payment, make sure to review the loan due date before an  More...

A stop pay order can be deleted using the same command that is used to create a stop payment, via Tool #71 Stop Payment on Member Check/Draft. Use the online help link below for exact instructions.

Yes. The annual Year-End Processing Guide includes specific steps on preparing your A/P vendors for annual 1099-MISC reporting. Certain configuration settings are needed to ensure that the system calculates the amount paid to the vendor for the year and places it into the Previous year 1099-MISC amount field on the vendor record during year-end processing. Prior to year-end: Verify the setting of the Create a form 1099-MISC year end flag on each vendor (via Tool # 990 Work with A/P Vendors )  More...

The most important thing to understand is when the bill will be received, not how it will be paid. Payment methods are determined by the relationship between Fiserv and the biller, and are subject to change. When scheduling a payment, the system automatically pre-fills the earliest payment date the biller can receive the payment. The date can be altered to a future date, but not an earlier date. Once a payment begins processing, you will be able to view the payment method in the history. If the   More...

For online credit unions, contact a Client Service Representative or complete the It's Me 247 Configuration Change Request Form (see the link below; requires Microsoft Word) to activate this flag. You can also define how long the stop pay orders will remain on file before being purged, in # of days or months. For self-processors, this is done using OPER Tool # 5356 Online Banking Configuration and OPER Tool #5511 Audio Response Configuration . IMPORTANT: If you have already activat  More...

NOTE: At this time, sending capabilities (via CU*BASE and OLB) are unavailable for RTP and the FedNow Service. When using a third-party app to instantly push funds into a member's CU account, the member will need to share their full account number (base member number and suffix). We recommend using the full MICR number to avoid errors, but it is not necessary. (Note: users may be prompted to input different formats depending on the third-party app.) If the member has previously connected th  More...

This is not currently possible to do in teller processing as it would require the use of two separate Proc Codes for the loan account; a 'T' for the transfer, and an 'L' or 'X' for the principal only payment. This could be accomplished however either via member account adjustment to move the funds through a suspense GL, allowing control of the transaction description and the allocation of the funds to the loan. Alternatively, you could add a secondary transaction descrip  More...

When setting up the loan request, enter a First payment date that is the appropriate month-end date. For example, if creating a loan request on August 25, you would specify that the first payment is due on September 30. Then enter a 31 into the Payment day field. This will trigger the system always to use the last day of any given month going forward (31, or 30, or 28 or 29 for February). To adjust this on new loan requests going forward, set the Day of first payment as 31 using Tool #470 Loa  More...

No. CU*BASE accounts payable payments made via ACH do not pay any attention to any limits entered in CU*BASE via Tool #569: Online/Mobile/Text Banking VMS Config > A2A Transfers . However, all ACH transactions that we send to Magic-Wrighter on your behalf, whether for a member or via the accounts payable system, are considered part of the same pool of transactions to which Magic-Wrighter's daily limits DO apply. Therefore, if your credit union gets a failure-to-process error on a large  More...

You can use the “Print CU Checks” feature to cut a check to any vendor, including vendors that have been configured in your CU*BASE Vendor database, without creating an invoice record, if you wish. If you want that item to show up in the vendor's history (and update their YTD amount paid for the current year only ), you will need to perform a separate step to add the record manually. Here are the steps: Step 1: Printing a Quick A/P Check In a nutshell, you will be using Tool   More...

Yes, if you use CU*Spy, then any reports you send to the INSTANTxx output queue are included on your report archive CDs.

Prior to the 16.10 release, the SSA began using multiple Company IDs, and it was recommended that credit unions consider using Automated Funds Transfers (AFTs) to handle distributions. Beginning with the 16.10 release a new cross-reference system will be implemented that will automatically funnel all incoming company IDs from the Social Security Administration and treat them as if they came from one, consistent company ID we’re referring to as the “Primary ID.” With the chang  More...

A common request from credit union employees, although generally not from credit union management, is that the network (CU*Answers or cuasterisk.com) should move to “get” Zelle. While we understand the general rule of thumb that if members seem to like a solution it makes sense to match it, in this case the credit union business leader needs to look deeper: Zelle is a branded solution for P2P. It is a community that you join. Zelle provides a P2P transaction approach that is uniqu  More...

Beginning with the 22.10 release, implemented on October 9, the date that is used on the check and that appears in accounts payable history is the date the invoice is paid. This is also the date that is used for the G/L entry. This is the date that the payment is processed via Tool #1961 “Process Accounts Payable Payments ”.

When you use the filter buttons on the File Maintenance Inquiry dashboard (Tool #159: Audit File Maintenance Inquiry (CUFMNT)), indicators note which programs, fields/columns, and files/tables AuditLink has flagged as “critical” for auditing teams to monitor on a daily basis. You can quickly sort by that indicator and select only those items for a quick scan of maintenance that directly affects member accounts. Below is a listing of these critical items. Columns/Fields Field Why   More...