Case Study: Creating Efficiencies for Providers Through FedPayments Reporter Service

For Healthcare Providers, receiving electronic funds transfers (EFTs) via ACH can be as quick and easy as receiving Direct Deposit.  But reassociating EFTs with remittance information can be labor intensive, especially if Providers have not made a request to receive the NACHA CCD+ Payment-Related Information, including the TRN Reassociation Trace Number, from their bank.

The NACHA Operating Rules, Subsection 3.1.5.3 require a Receiving Depository Financial Institution (RDFI), or a Healthcare Provider’s bank, to deliver the NACHA CCD+ Payment-Related Information, which includes the TRN Reassociation Trace Number, if requested by the Provider.  The Rules require that delivery take place no later than the opening of business on the second banking day following the payment settlement date.  The Rules also require that financial institutions offer Providers the option to receive Payment-Related Information through a secure electronic delivery method, not including fax or email. 

If requested, receipt of the NACHA CCD+ Payment-Related Information and TRN Reassociation Number can help Providers automatically match payments to remittance advice.  Learn how Georgia Bank & Trust, a community bank in Augusta, Georgia, was able to help two of its medical practice customers create efficiencies by automating the delivery of the TRN Reassociation Trace Number through the FedPayments Reporter Service. Read the case study, "FedPayments Reporter Service helps reduce tedious, manual work for Georgia Bank & Trust customers," found in the November issue of FedFocus, a monthly newsletter published by the Federal Reserve Banks.