Electronic Fund Transfer System - EFTS

MLA 2007 Philadelphia, PA

Staff

Evelyn Morgen, Program Director Jackie Lewis, Program Manager Jola Sliwinski, Program Coordinator Lucy Piechowski, Program Assistant Steve Bazinet, Applications Developer

Membership

Transactions

2006-2007 Accomplishments

Fully functioning TEST website CURRENCY CONVERSION DOCLINE/EFTS File Builder Advisory Committee Meetings Changes to website, text, functions

Currency Conversion

NSCNVA loans a document to ONCMMU

for CDN$11.00.

NSCNVA submits the transaction by uploading a transaction file or using the online transaction system.

Library

EFTS processes the transaction at the time it is uploaded and detects an

intra-Canadian transactionfor CDN$11.00.

EFTS requests the current CDN$/US$ conversion rate (0.876543) from an on-line service at the time of the

upload.

The transaction is stored as the equivalent US$ ($9.64)

along with the conversion rate.

Reports for Canadian libraries show intra-Canadian transactions in US$ with the

CDN$ equivalent and conversion rate. All other transactions are shown in

US$ only.

EFTS

Data is sent to EFTS

Intra-Canadian Transactions

Conversions will only be applied to transactions between Canadian libraries. The libraries will exchange documents priced in CDN$. The current exchange rate is applied at the time the file is uploaded to EFTS and carried forward as US$.

Deposits, redistributions and all other transactions will remain solely in US$.

Currency conversion will be inferred from the identity of the loaning and borrowing countries:

Both libraries are in the USA: The transaction is assumed to be in US$.Both libraries are in Canada: The transaction is assumed to be in CDN$.The loaning library is in the USA and the borrower in Canada: The transaction is

assumed to be in US$.The loaning library is in Canada and the borrower in the USA. Because Canadian

libraries typically charge US libraries in US$, the transaction is assumed to be in US$.

Interbank Exchange Rates

The prices quoted by EFTS are based on interbank market rates. Retail rates, which are used by credit cards or cash exchanges in banks or other exchange services, usually include 1 to 10 percent margins on the top of the interbank rates. By using the interbank rates in our calculations, EFTS provides you with the best possible exchange rate with no premiums!

The EFTS Exchange Process Between Canadian & US Libraries

Canadian Transactions

Exchange rate data are pulled hourly.

DOCLINE File Builder

WEBSITE

Promotional Items

OTF Table Instructions

OTF TableSome

columns contain bogus

data.

Report Summary

Functional Changes

Currency Conversion

Inactive to Active Status Change

Email Scheduler

Web Server Memory

For the future…

Move system to new platform Killing bugs! Batch delete in OTF Provide detailed info on

iitransactions processed overnight Clarify MOA wording Add “Release Notes” to website

Online Transaction File

Some columns

contain bogus data.

Member Messages

Marketing EFTS

Work with RML Outreach coordinators Promote the use of EFTS for “other” ii

transactions Develop new marketing tools Offer incentives for joining Develop educational modules Develop a new look, logo, tagline

Reminder…

Log on! Review your OTF-Error table LIBID on all correspondence AC representatives in every region

Discussion

How can we increase participation? What features would you like to see? How can we serve you better?

Contact us:

efts@uchc.edu

https://efts.uchc.edu

1-866-561-5045

See you next year!

MLA 2008***CHICAGO Keep your comments, suggestions

iicoming! We love to hear from you! 1-866-561-5045 efts@uchc.edu https://efts.uchc.edu THANK YOU!