Date post: | 17-Dec-2015 |
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NC Local Government Investment Association
AgendaIntroductions
State of North Carolina Contracts
ACH Overview
CashPro Information Reporting
Fraud Prevention / UPIC
Contract Pricing
The Players / Responsibilities
Other Contract Technologies
Electronic Data Interchange Debit / Prepaid Cards Purchasing Card / Epayables
Questions
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Introductions
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Amber YoungCentral Compliance ManagerStatewide Accounting DivisionNC Office of the State Controller Shannon OkineSpecialized Banking Unit SupervisorFinancial Operations DivisionNC Department of State Treasurer
Gary L ClarkSenior Vice PresidentSenior Treasury Officer Bank of America
State of North Carolina and Bank of America Presenters
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State of North CarolinaFinancial Contracts
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ACH DisbursementsProvider = Bank of
America
State of North Carolina Financial Contracts
Purchasing Card & EpayablesProvider = Bank of America
Merchant ServicesProvider = Suntrust
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ACH 101
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3RD PartyACH Gateway
Originating Financial Institution
Processes On-Us Transactions Produces automated file for all other items to send to ACH
Payables Settlement Accounts
Recipients of Funds(Employees, Vendors)
Local Government Entity
Creates ACH Files to sendTo Bank of America
CashPro OnLine ACH Initiation Wire Transfer Info Reporting ACH Reports
Returns
ACH Network
Receiving Financial Institution
The ACH Process
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PPD - Prearranged Payment or Deposit (consumer)
PPD+ - PPD Plus one addenda record (consumer)
CCD - Cash Concentration or Disbursement (corporate)
CCD+ - CCD Plus one addenda record (corporate)
CTX - Corporate Trade Exchange (corporate) up to 9,999 addenda records POP - Point of Purchase (consumer) RCK - Re-Presented Check (consumer) WEB – Internet Initiated (consumer) TEL – Telephone Initiated (consumer) ARC – Accounts Receivable Entries (consumer)
ACH Transactions
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CashPro InformationReporting
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CashPro Online
Overview Single sign-on portal to Payments,
Information Reporting, Notifications, Trade and Foreign Exchange
Latest technology – Web 2.0
Dashboards: Visibility of data customized at the user level
Intuitive workflows that support customization
Flexible reporting options with custom reports and formats
Notifications available via e-mail, sms & fax
Regionalization capabilities including local language support for 11 languages
Dual administration & Multi-layer security
Online University available 24/7 for access to virtual assistance, interactive training courses, user guides and other resourcesCashPro Online Client Value Proposition
CashPro Online delivers simple, secure access and greater control over all the financial solutions your business uses, wherever and whenever you choose.
“One Portal. One Password. Global Convenience.”
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Information Reporting
Configurable dashboard
Online Balances – current day and previous day
One click reporting – My Reports
Advanced filtering and searching
Customizable reports and downloads
MultiBank reporting
Transaction search capability
Local Language user interface and data reporting capabilities
eStatements
eMail scheduling for Reports and Statements
365 days online history
18 months of online statements
Export capabilities in csv, pdf, excel, XML, MT940 and others.
CashPro® Online – Information Reporting
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CashPro® Online – Global Payments Solution
Features Ease of creating payments
User defined fields
Straight through processing
Depending upon the debit account selected and currency of the payment, CashPro® Online will automatically present the fields to be completed to ensure STP
Single currency transactions
Cross currency transactions
Foreign currency transaction
Smart Calendar
Beneficiary emails
Flexible payment approval options
Import and export capabilities
Standard and customized reports in various formats
Supports 10 languages
CashPro® Online - Payments
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Training
Phone
Internet
In Person
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Fraud Prevention
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ACH Positive PayWith ACH Positive Pay, you receive online reporting of incoming ACH transactions that do not meet your authorization criteria,
before the transactions post to your account. This early warning reporting allows an entitled user to pay or return incoming ACH
transactions as they are received.
REAL TIME DECISIONING▪Ability to accept or reject ACH transactions from your unauthorized trading partners▪Helps with investigating potentially fraudulent items as they happen
REAL TIME NOTIFICATION OF EXCEPTIONS; CUMULATIVE REPORTS ▪Ability to view ACH exceptions as they are received▪Daily reporting provides an audit trail of daily authorization activity
SELF SERVICE ONLINE AUTHORIZATIONS▪Authorization lists for your trading partners easily kept current allowing for up-to-date transactions
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ACH Blocks
OPERATES AUTOMATICALLY▪Establish block instructions on our system
▪Based on your instructions, our system automatically rejects incoming transactions
▪By using an automatic service, you save time
NO RECONCILEMENT IMPACT Rejected transactions do not post to your account, so there are no additional
transactions to reconcile
ONLINE CONVENIENCE Rejected and paid transaction detail
Block instruction detail
Automatically reject ACH transactions received, such as those from unauthorized trading partners or
intended for consumer bank accounts or all debits and/or credits.
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UPIC
SECURE▪UPIC enables ACH credits, without revealing the receiving bank account number
CONVENIENT AND EFFICIENT▪Reduce the risk of unauthorized debits to your account
▪Mitigate the risk of fraud
▪Increase ACH payment credits without distributing your account number
▪Avoid divulging sensitive bank information
UPIC is a code assigned to a replace the bank account number during the processing of ACH credits. A UPIC is obtained by an ACH
receiver, and provided to the ACH credit originator, so the originator may initiate ACH credits using a code, instead of a bank
account number.
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Contract Pricing
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Per Unit Cost Annual Cost
ACH Origination ServicesACH Monthly Maintenance per Account $ 4.00 $ 5,272.00
A CH Credits/Debits/Prenotes Originated Annually $ .0048 $ 66,746.60
ACH Addenda Originated Annually $ .004 $ 1,514.75ACH Origination Files Transmitted Annually via CPS $ 2.75 $ 825.00
ACH Origination Files Transmitted Annually non-CPS $ 2.75 $ 29,700.00
Transmission Maintenance Fees for DCC Monthly N/A N/A
Transmission Maintenance Fees for Participant Monthly N/A N/A
Other ACH Related Services
ACH Returns Annually $ .50 $ 26,969.00
ACH Notifications of Change Annually $ .50 $ 14,583.50
ACH Reversals Annually $ 7.00 $ 5,418.00
ACH Received Entries File Transmission Annually $ 2.75 $ 3,225.75
ACH Received Entries Per Credit Item Reported Annually $ .01 $ 33,379.70
Settlement Account ServicesBank Account Monthly Maintenance $ 8.00 $ 21,760.00
ZBA Account Monthly Maintenance $ 5.00 $ 5,645.00
Returns Handling Monthly Maintenance $ 1.00 $ 89.00
ACH Debit Block/Filter Monthly Maintenance $ 4.00 $ 3,672.00
Wire Transfers Incoming Annually $ 5.00 $ 51,680.00
Book Transfers Annually $ 1.50 $ 19,582.50Deposits other than ACH Credits Received & wires Annually
$ .25 $ 8,707.25
Debit Postings Annually $ .03 $ 1,033.56
Online Bank Account Reporting
Monthly Online Reporting Maintenance $ 20.00 $ 94,020.00
Line Item Costs
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The Players / Responsibilities
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Other Contract Technologies
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Paymode-X system
Split payments• Card file• ACH file• Check file• Wire file
Posts Paymode-X payments to online reports
AP SystemProcess pay run for payments and send a single payment file to Paymode-X®.
Reconcile paper check, ACH, wire and other payment types using BofAML Treasury Services
PaymentFile
Card Payments
Paymode-X (ACH) Payments
Check Payments
Global payments, wires, split remittance options
ePayables1.Works® generates email
notification to supplier2.Updates transaction
status and posts to AP system
3.Card controls and maintenance
SupplierReceives email
Initiates payment through ERP or merchant terminal
Keys in remittance data from email
Processed through
TSYS
Paymode-XForwards ACH payments to the BofAML ACH network
SupplierCan view Paymode-X transactions online
Receives flexible data file outputs for updating AR
Paymode-X Plus Check Printing FacilitySends payment
data to bank ARP system for inclusion
in issue file
Processes and mails
checks
CashPro® Connect Payments
Global payment network for wires and split remittance options for vendors.
Prepaid Cards
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Questions ???
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