View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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,


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102