MUG 2013 User Panel ACH Origination 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 ID: 1024523
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1. Bill Payer Alternatives:MUG 2013 User Panel(ACH Origination)
2. Established 1899 as the Wayne Building and Loan Company1964 Wayne Savings and Loan Company1997 Wayne Savings Community Bank1993 Converted to Stock form of OwnershipNASDAQ WAYNCorporate Office in Wooster, Ohio405 Million in Assets12 Branches – 116 EmployeesIn House Customer – 9 Years with MISERWayne Savings Community Bank:ACH Origination
3. Retain “Community” Ideals and Level of ServiceStabilitySafety and SoundnessCommunity-Minded …At the Same Time…Shed the “Traditional Thrift” LabelExpand Commercial-based Products & ServicesAppeal to Gen X, Y CustomersFocus on Technology for Accessibility / EfficiencyBank Initiatives:ACH Origination
4. Bill Pay-Per-View: METAVANTE vs. WAYNE SAVINGSCore Workout: MISER’s 3rd Party Origination ProgramsHow to Score This Round: Unanimous Split DecisionQuestionsDiscussion Topics:ACH Origination
5. Pays Non-Sufficient FundsPolices Own ClientsACH or Check PaymentsAutomatic Payment OptionsReminder AlertsUser Notes Viewable eBill IntegrationAd Hoc Reporting / EOY CDMETAVANTE vs. WAYNE SAVINGSCheaper Service to MaintainAccount Analysis FriendlyNSF Fee IncomeAP Software CompatibleBatch (en masse) PaymentsRisk Management ToolsFinancial InstitutionOriginating CompanyACH Origination / Bill Pay-Per-View
6. Number of Online Business Banking Customers – LOWInitial Setup Cost to Implement Bill Pay – HIGHExisting Bill Pay Solution (Consumer) – AVAILABLEPotential Alternative (ACH Origination) – PRESENTPressure from Current Business Customers - GROWINGOther Bus. Bill Pay Considerations:ACH Origination / Bill Pay-Per-View
7. MISER’s 3rd Party Origination:ACH Origination / Core Workout3rd Party Master (TPM)Master Record for Company3rd Party Company (TPC)Risk Management ProcessingStandard Entry Class (SEC) Code Limits3rd Party Redeposit (TPR)3rd Party Suspect (TPS)3rd Party Totals History (TPMOT) + (TPMRT)
8. Download 3rd Party ACH Files – Business Online BankingChange File ID = HStart WFL/001/3rdPARTYINTWR016 – ACH Splitter ProgramTWD001 – Online ACH File Edit and Entry ProgramTWD002 – Online ACH Posting ProgramStart WFL/001/3rdPARTYOUTTWD007 – Online ACH 3rd Party Processing ProgramTWR009 – 3rd Party NOC and Returned Items AdvicesTWR010 – ACH Exception Advice Print ProgramSend 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):000123456-0001-0-201201M-U004In this example, 000123456-0001-0 is the account number, 201201M 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: 12.2.01 UPDATE TIME:07:45:10 RECEIVING POINT 2412-7204-0 WAYNE SAVINGS COMMUNITY SENDING POINT 7930-0013-4 ASF APPLICATION SUPERVI DATE 130412 TIME 20:17 ID D COMPANY NAME: 1CHAIRSRUS SERVICE CLASS : 200 EFF DATE: 130414 BATCH ID NBR: 54 COMPANY ID : 1122332814 STD ENTRY CLASS: CTX SETT DATE: 105 WH SEQ NBR : 12146272 ENTRY DESC : EDI DISB. DISCRTNARY DATA: DESC DATE: ORIG NBR : 0430-0009 TRACE NUMBER SEQ NBR TC TRAN/ROUT# ACCOUNT NUMBER INDIV ID NUMBER #ADN/INDIVIDUAL NAME DP A AMOUNT ----------------- -------- -- ---------- ----------------- --------------- ---------------------- -- - ----------- 0430-0009-2409604 12146273 22 24127204-0 8020123456 076543 0007 TABLETOP 1 471.13 *ADDENDA: 705ISA*00* *00* *08*9251251000 *01*043000096820 *130412*17000012409604 *ADDENDA: 7050*U*00401*000010855*0*P*>\GS*RA*4124874200*043000077820*20130412*1700*3417*X*00400022409604 *ADDENDA: 705010\ST*820*000000394\BPR*C*471.13*C*ACH*CTX*01*043301627*DA*1013636459*12518728100032409604 *ADDENDA: 7054**01*241272040*DA*8020123456*20130414*VEN\TRN*1*068082\CUR*2L*USD*0001*PE*USD\R00042409604 *ADDENDA: 705EF*IT*062782\DTM*097*20130412\N1*PR*1CHAIRSRUS\N1*PE*TABLETOP*FI*34-2233445\N3*900052409604 *ADDENDA: 70547 DEVILLE RD\N4*WADSWORTH*OH*44281*USA\ENT*1\RMR*OI*71623**471.13\REF*FR*89903300062409604 *ADDENDA: 705-6\DTM*003*20130211\SE*15*000000394\GE*1*3417\IEA*1*000010835\ 00072409604 *** BATCH ID NBR *** TOT ENTRY/ADDENDA TOT DEBITS TOT DEBIT AMT TOT CREDITS TOT CREDIT AMT 54 8 .00 1 471.13 *** FILE TOTALS *** TOT ENTRY/ADDENDA TOT DEBITS TOT DEBIT AMT TOT CREDITS TOT CREDIT AMT 8 .00 1 471.13 EDI Invoice Example:ACH Origination / How to Score This Round
12. Questions?ACH Origination / QuestionsThank You!Jeff King - Information Systems Managerjeffking@waynesavings.com330-287-2801Acceptance Level of ACH Payments?Standard Method to Convey Billing Information?