Deposit Reconciliation

Reduce the time you spend manually sorting and tracking checks and deposits with the automated Account Reconciliation Service.

The Account Reconciliation Service features:

• Useful audit trails.
• Lists paid and/or outstanding items in numerical order.
• Reports checks in numerical order.
• Provides detailed report options: print, magnetic tape, microfiche.
• Lists deposit items in serial number order.
• Offers various output options: paper reports, tape, mainframe-to-mainframe transmissions, mainframe-to-PC transmission.

Your benefits:

The bank performs the labor intensive function of reconciliation of checks issued to paid checks, and saves you the cost of staff and overtime to perform this tedious task.

A cost-effective service, the Account Reconciliation Service can be tailored to meet the needs of your organization.

A feature called Positive Pay, which is available online using Business Internet Banking (BIB) can reduce your company's exposure to fraud or stolen checks. You provide FENB with your issued items and on a daily basis this information will be compared against the checks paying each day. If the check number and amount are not on the issued list, the check will appear on an exception report and you can decide if you would like to pay or return the item. This saves you the cost of stop payment fees and provides you with a low cost peace of mind.