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l l★K Federal Reserve Bank of Dallas 2200 N. PEARL ST. DALLAS, TX 75201-2272 HELEN E. HOLCOMB FIRST VICE PRESIDENT AND CHIEF OPERATING OFFICER August 1, 2003 Notice 03-41 TO: The Chief Operating Officer of each financial institution and others concerned in the Eleventh Federal Reserve District SUBJECT New Subscription Pricing Option for FedImageSM Retrievals DETAILS As a result of customer feedback and the increasing demand for Internet-based image retrievals, the Federal Reserve is pleased to offer customers the option to change the way they pay for retrieving check images stored in our image archive. Effective September 1, 2003, FedImage services customers can elect to pay for retrieval services through a per-retrieval fee or through a new subscription retrieval service. The subscription retrieval service applies a fee across each image archived rather than paying on a per-retrieval basis. This permits customers to retrieve images without an additional retrieval fee. The per-item fee varies depending on your monthly retrieval rates. The structure below applies to all customer retrievals, including image viewing, faxing, emailing, application program interface/gateway access and file delivery initiated by a request file (RORR). The monthly retrieval rate is based on these retrieval types compared to monthly archive volume. Subscription Retrieval Pricing Option Details If You Have a Monthly Retrieval Rate of: You Will Pay $__ Under This Tier Structure 0 to 2% $.003 per image item archived (Tier I) Greater than 2% and less than or equal to 4% $.006 per image item archived (Tier II) Greater than 4% and less than or equal to 6% $.01 per image item archived (Tier III) Greater than 6% Applicable Tier rate plus $0.35 per retrieval on the excess of 6% (Tier IV) Note: The following month this customer would be considered Tier III. For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810. -2For example, ABC Bank archives 1,000 images per month and retrieves 4 percent of those items (40 images). With the new subscription pricing option, ABC Bank would be charged $6 ($.006 per item for its 1,000 archived items). With the current image retrieval fee of $.35 per item, ABC Bank would pay $14 ($.35 per item for 40 image retrievals). Initially, customers who sign up for this option will be assigned to Tier I. Retrieval rates will be calculated on a monthly basis and applied to the following month’s activity. Benefits of the new pricing option to financial institutions: • Simplified image services billing improves ability to forecast and budget • Potential reduction of costs as retrieval volume grows MORE INFORMATION For additional information on the subscription pricing option, please visit the Federal Reserve Financial Services web site at www.frbservices.org or contact one of the account executives listed below: Rick Flansburg Michele Hitchings Jim McCammon Susan Vice Kathy Waggoner (210) 978-1661 (713) 652-9141 (214) 922-5491 (214) 922-5430 (713) 652-9146 Paper copies of this notice or previous Federal Reserve Bank notices can be printed from our web site at www.dallasfed.org/banking/notices/index.html. Sincerely,