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Bill Payer Alternatives: MUG 2013 User Panel (ACH Origination)

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Presentation on theme: "Bill Payer Alternatives: MUG 2013 User Panel (ACH Origination)"— Presentation transcript:

1 Bill Payer Alternatives: MUG 2013 User Panel (ACH Origination)

2  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

3  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

4  Bill Pay-Per-View: METAVANTE vs. WAYNE SAVINGS  Core Workout: MISER’s 3 rd Party Origination Programs  How to Score This Round: Unanimous Split Decision  Questions Discussion Topics: ACH Origination

5 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

6  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

7 MISER’s 3 rd Party Origination: ACH Origination / Core Workout  3 rd Party Master (TPM) Master Record for Company  3 rd Party Company (TPC) Risk Management Processing Standard Entry Class (SEC) Code Limits  3 rd Party Redeposit (TPR)  3 rd Party Suspect (TPS)  3 rd Party Totals History (TPMOT) + (TPMRT)

8  Download 3 rd 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 3 rd Party Processing Program TWR009 – 3 rd 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

9 Straight ACH Example: ACH Origination / How to Score This Round

10 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): M-U004 In this example, is the account number, M is the tax period and type (the first month of 2012), and the fund/class is U004. ACH Origination / How to Score This Round

11 001 WAYNE SAVINGS BANK EDI TRANSACTIONS EXTRACTED TWD001 REPORT 04/15/13 RUN 04/15/13 PAGE 1 VERSION: UPDATE TIME:07:45:10 RECEIVING POINT WAYNE SAVINGS COMMUNITY SENDING POINT ASF APPLICATION SUPERVI DATE TIME 20:17 ID D COMPANY NAME: 1CHAIRSRUS SERVICE CLASS : 200 EFF DATE: BATCH ID NBR: 54 COMPANY ID : STD ENTRY CLASS: CTX SETT DATE: 105 WH SEQ NBR : ENTRY DESC : EDI DISB. DISCRTNARY DATA: DESC DATE: ORIG NBR : TRACE NUMBER SEQ NBR TC TRAN/ROUT# ACCOUNT NUMBER INDIV ID NUMBER #ADN/INDIVIDUAL NAME DP A AMOUNT TABLETOP *ADDENDA: 705ISA*00* *00* *08* *01* *130412* *ADDENDA: 7050*U*00401* *0*P*>\GS*RA* * * *1700*3417*X* *ADDENDA: \ST*820* \BPR*C*471.13*C*ACH*CTX*01* *DA* * *ADDENDA: 7054**01* *DA* * *VEN\TRN*1*068082\CUR*2L*USD*0001*PE*USD\R *ADDENDA: 705EF*IT*062782\DTM*097* \N1*PR*1CHAIRSRUS\N1*PE*TABLETOP*FI* \N3* *ADDENDA: DEVILLE RD\N4*WADSWORTH*OH*44281*USA\ENT*1\RMR*OI*71623**471.13\REF*FR* *ADDENDA: 705-6\DTM*003* \SE*15* \GE*1*3417\IEA*1* \ *** BATCH ID NBR *** TOT ENTRY/ADDENDA TOT DEBITS TOT DEBIT AMT TOT CREDITS TOT CREDIT AMT *** FILE TOTALS *** TOT ENTRY/ADDENDA TOT DEBITS TOT DEBIT AMT TOT CREDITS TOT CREDIT AMT EDI Invoice Example: ACH Origination / How to Score This Round

12 Questions? ACH Origination / Questions Thank You! Jeff King - Information Systems Manager )Acceptance Level of ACH Payments? 2)Standard Method to Convey Billing Information?


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