Configuring Starter/Replacement and LOC Disbursement Checks

Description

If this is checked, the configuration below is used.  

If this box is unchecked, the configuration will be hidden on the screen. Then the "Order starter checks" box will be unchecked on this New Account Creation screen.  When your employee attempts to check the box to order starter checks, they will get an error message that will indicate that the configuration (this screen) needs to be changed.  (This is for starter checks only and should not be confused with other types of checks.)

This field is used to set the default check number to be printed on the first check for each member. For example, if you are using this program primarily for starter checks, you may decide to use check number 0101 or 1001 routinely for the first check a member receives.

• NOTE: This setting can be modified as needed when the checks are actually printed, for situations where the default setting is not appropriate.

This field is used to set the default number of checks to be printed in each batch. For example, if you are using this program primarily for starter checks, you may choose to give members 20 checks in their starter packet.

• NOTE: This setting can be modified as needed when the checks are actually printed, for situations where the default setting is not appropriate.

This field is used to indicate the default printer tray in which check paper will be placed Manual (M), 1 (Upper drawer), or 2 (Lower drawer).

This field is used to specify if a default fee is to be used whenever starter or replacement checks are printed. Fees cannot be assessed when printing LOC disbursement checks.

Check this box if you want to specify a default fee to be used whenever starter or replacement checks are printed.

• Remember, if the Allow fee to be manually waived field is set to Yes, fees can be changed or waived at the time the checks are printed. You may choose to set a default fee and then set a policy as to when it can be waived, or not use any default fees but require a fee only in specific cases.

Enter the fee amount to be assessed, per check. For example, if you wish to charge a default fee of 25¢ per check printed, enter 025 here.

• Even if you choose not to turn on the Default fees option, this per check fee amount will be used to calculate fees on a case by case basis when printing checks.

Enter the general ledger income account to which the income from the check fee should be posted.

Check this box to allow the payment of the fee to bring the member's account below the available balance. Leave this box unchecked if this should not be allowed. When attempting to print the checks, if the fee will take the member's balance below the available amount, an error message will appear and the checks will not print.

Choose Yes here if you wish to allow a teller or MSR to manually modify or waive this fee at the time the checks are printed. Choose No 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.

These view-only fields display the MICR configuration and are used to tell the system how the member's account number should appear in the MICR line of the checks. There is a separate MICR line example for share draft/checking accounts “(SD/CHK)” and for LOC disbursement checks “(LOC loans)”.

SEE ALSO:LOC Disbursement Checks Overview

Any numeric character (0-9) shown here in this example will actually appear in the final calculated MICR line.

• Contact a Client Services Representative to make changes to your MICR line.  Self Processors, you can make adjustments in the Operations side MICR Configuration.

The following alphabetic characters can also be used to instruct the system how to create a MICR line:

Account Base number (A) - the system will insert the member's account base into the positions indicated by this character. If less than 9 characters are included, the system begins at the right side of the number and works toward the left.

• Example: for account base 123456789, if the MICR example only includes 7 A” characters, the MICR line would show 3456789 as the account number. If the account number is smaller than the specified number of characters, the system will fill in leading zeros.

Account type/suffix number (T) - the system will insert the member's account type suffix into the positions indicated by this character. If less than 3 characters are included, the system begins at the right side of the number and works toward the left.

• Example: for account suffix 786, if the MICR example only includes 2 “T” characters, the MICR line would show 86 as the account type.

Check digit (C) - the system will insert the check digit for the checking or LOC account into the position indicated by this character.

This field is used for a narrative explaining how the MICR line should be constructed. Because it will appear on the screen used for printing checks, it could be used to provide a “key” to the code entered as the MICR account number example, or any other instructions for operators who are printing the checks.

• Contact a Client Services Representative to make changes to your MICR line.  Self Processors, you can make adjustments in the Operations side MICR Configuration.

Enter your credit union's complete Routing & Transit number.

Enter the routing number as it should appear in the upper right corner of the member's check.

This code will be provided to you by a CU*BASE representative and refers to the cartridge on which your logo is stored.

Choose Yes or No to indicate whether or not an operator can alter the default settings for an individual member's check order.

• For example, if you want operators to be able to change the name and address lines but not the default MICR line calculated by the system, choose Yes in all but the MICR line account no field.