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Federal Reserve Bank of Dallas l l★K HELEN E. HOLCOMB FIRST VICE PRESIDENT AND CHIEF OPERATING OFFICER DALLAS, TEXAS 75265-5906 December 28, 2001 Notice 01-94 TO: The Chief Operating Officer of each financial institution and others concerned in the Eleventh Federal Reserve District SUBJECT FedACH Fees™ Lowered DETAILS The Federal Reserve is pleased to announce lower FedACH fees for items originated, items received, and for all addenda records, effective February 1, 2002. Per-item origination fees for items deposited in both large and small files are being lowered one and one-half mills ($.0015); the receipt fee for all items will also be lowered by one and one-half mills ($.0015); the fee per addenda record will be lowered by one mill ($.001). The following is a summary of fees that will change on February 1, 2002. Service Fee through Jan. 31, 2002 Fee beginning Feb. 1, 2002 Items originated in large files (2,500 items or more) $.0040 $.0025 Items originated in small files (fewer than 2,500 items) $.0055 $.0040 Items received $.0050 $.0035 Addenda record $.0020 $.0010 These fee reductions, along with FedACH price changes made in October 2001, reflect, in part, lower costs associated with Federal Reserve operations and support. By the end of February 2002, the Fed will have consolidated FedACH operations from all twelve districts into two central sites. 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. -2- While price reductions in and of themselves should benefit FedACH customers and their end users alike, we also expect lower fees to enable FedACH customers to more aggressively promote the use of FedACH products to their business and consumer account holders. As users of FedACH services, you have told us that low prices coupled with value-added ACH products are essential to your ACH business. We listened to you, and we took action based on your comments. The Federal Reserve remains committed to delivering low-cost, high-value services. The number and variety of payments that can be made efficiently and conveniently by FedACH continue to grow. The Federal Reserve recently introduced the International ACH service (IACH), and our efforts to bring new and innovative services to the marketplace continue. We welcome your ideas and suggestions for new FedACH services, and we encourage your participation in designing and piloting new services. By working together, we believe that ACH will remain the leading payment choice among a growing number of electronic payment options. MORE INFORMATION If you have questions about fee changes or FedACH services, please contact your local Federal Reserve business development representative. Fee schedules and FedACH service information are also available at http://www.frbservices.org. For additional copies of this Bank’s notice, contact the Public Affairs Department at (214) 922-5254 or access District Notices on our web site at http://www.dallasfed.org/banking/notices/index.html. Sincerely, “FedACH” is a trademark of the Federal Reserve Banks.
@FedFRASER