Configuring CU Printed Check Fees

Description

Teller/Phone Check Fees

These fields are used to activate fees that are charged for checks printed using the Teller and Phone Operator systems.

This MUST be checked in order for check printing fees to be assessed.

This description will appear on member inquiry screens and statements for any transactions incurring this fee.

The total amount of the fee.

The G/L income account where the fee is credited.

This field indicates how many items can be printed without incurring any fees, and works in conjunction with the Purge frequency field.

• For example, say you wish to allow members to print 3 checks each month free of any fees. This field would be set to “3” and the Purge frequency would be set to “M” for a Monthly purge.

This field indicates how often the fee counter is reset back to zero, and works in conjunction with the # of free items field.

• For example, say you wish to allow members to print 3 checks each month free of any fees. The # of free items field would be set to “3” and this field would be set to M for a Monthly purge. If you wish to allow 3 checks every day, choose a frequency of D for Daily.

Fee Waivers

These fields govern if and when fees will be waived. The same waivers are used for BOTH printed CU checks as well as CFT (Check Funds Transfer) automated checks. It is not possible to use different waivers for each area; however, by leaving the Use Waivers flag unchecked, you may elect not to use the waivers at all when processing CFT checks.

NOTE: For members who are waived from fees because of age or aggregate balance, the Check Fee field on the check printing screen will not even appear, regardless of how many checks are cut during that session or what effect the check disbursements have on the member's account balances.

• For example, say a member with a high aggregate balance requests 10 checks be cut. The system checks the aggregate balance at the beginning of the transaction and does not display the fee field. Even if the total of all ten checks causes the member's account to fall below the aggregate balance waiver amount, all ten checks will still be free.

However, if the member is subject to fees but is eligible for free items, the check printing screen screen will display the Check Fee field after all allowed free items have been used.

• For example, say a member comes in for the first time this month and requests 8 checks be cut from her account. The system checks to see if the member is waived, and finds that she is subject to check fees. However, configuration dictates that members are allowed 3 free checks per month. Once the first three have been cut, the Check Fee field will appear for the remaining 5 checks.

• CU*TIP: Fees that are waived because of these parameters will be recorded in the Fee Waiver Information file (FWHIST) and can be viewed using the Fee Waiver Information Report.

Enter the aggregate savings amount (for ALL savings and certificate accounts, including IRAs and tax escrow accounts) needed to waive the fee. Any amount equal to or greater than this amount will not incur fees, so it is not recommended that you enter 0.00 in this fiels. To charge this fee regardless of aggregate savings, enter all 9’s in this field.

Enter the aggregate loan amount (for all loan and open credit accounts) needed to waive the fee. Any amount equal to or greater than this amount will not incur fees, so it is not recommended that you enter 0.00 in this fiels. To charge this fee regardless of aggregate loans, enter all 9’s in this field.

Enter an age. Any member at or below this age will NOT incur fees for printed checks. If the field is set to 0 (zero), all ages below the High Age will be charged.

• For example, if you want to waive the fee for children age 18 and under, enter 18 here. Anyone age 19 and older will be charged.

• NOTE: Age waivers apply only to individual accounts, not organizational ones.

Enter an age. Any member at or above this age will NOT incur fees for printed checks. If the field is set to 999, all ages above the Low Age will be charged.

• For example, if you want to waive the fee for seniors age 55 and older, enter 55 here. Anyone age 54 and younger will be charged.

• NOTE: Age waivers apply only to individual accounts, not organizational ones.

If you wish to waive the fee for members who have certain types of accounts or cards, place a check mark in one or more of these fields.

• ATM card - Waiver for ATM card. For online ATM card, card must be in active status (not, for example hot carded) for fee to be waived.  For Off Trial Balance (OTB) ATM card, waives if a card is present, regardless of status.

• Debit card - Waiver for debit card. For online debit card, card must be in active status (not, for example hot carded) for fee to be waived.  For Off Trial Balance (OTB) debit card, waives if a card is present, regardless of status.

• Credit card - Waiver of fee for credit cards.  For online credit card, the loan must have a Process Type of V (credit card) with a status of Active (A) and not be written off (WRTOFF of 0) for fee to be waived.  For Off Trial Balance (OTB) credit card, waives if a card is present, regardless of status or balance.

• OTB savings acct - Waives fee if member has Off Trial Balance (OTB) savings account, regardless of status or balance.

• OTB loan acct - Waives fee if member has Off Trial Balance (OTB) loan account, regardless of status or balance. 

Place a checkmark here if you wish to allow a teller or member service representative to manually modify or waive this fee at the time of the member transaction. Remove the checkmark to block users from being able to change or waive this fee.

• Remember that fees that are manually modified or waived will appear on the Fee Waiver Information Report, so you may choose to allow manual waivers, and then keep a close eye on them through the report and improve employee education as needed.

CFT Auto Check Fees

The fields in this section are used to configure the fees that should be charged for credit union checks generated by the automated Check Funds Transfer (CFT) system.

SEE ALSO: Automated Funds Transfers (AFTs) & Check Funds Transfers (CFTs)

If you wish to charge fees for checks printed through the CFT system, choose Yes here and complete the remaining fields in this section.

Enter a transaction description to appear on member statements and inquiry screens when a CFT check fee is posted to the member's account.

Enter the total amount of the fee.

Enter the G/L income account number where income from the fee should be posted.

If a CFT record is set up as an IRA Payout Distribution, this field is used to determine whether or not the fee should be charged directly to the IRA account itself. If this flag is not checked, be sure to complete the dividend application field described below.

• If this is set to Yes, the fee amount will be taken in addition to the check amount, and the fee transaction will be coded with IRA withdrawal code “O” for Other.

If "Charge IRA account" is not checked, enter the Dividend Application from which check fees should be taken. This applies only to CFT records that have been set up as a payout distribution from an IRA account.

Check this flag if you wish to use the settings entered into the Fee Waivers section above to determine whether or not to charge a fee for CFT-generated checks.

• IMPORTANT: The Fee Waivers fields on this screen are used by both the Teller/Phone fee system and the CFT fee system. It is not possible to use different waivers for each area, although by leaving this field unchecked, you may elect not to use the waivers at all for processing CFT checks.