Cash Letters Flashcards
Group of negotiable instruments?
Cash Letter
What standard mirrors the paper environment of a cash letter?
X9.100-187
20 series records are for what?
Forward image exchange
30-series records are for what?
Return image exchange.
What four records are mandatory?
(In order)
01-File header
10-Cash letter Header
90-Cash letter Control
99-File control
First record of file containing origin/destination routing numbers and names, also creation date and time?
File Header Record 01
Last record of file that contains control information like cash letter count, item count, and total amount.
File Control Record 99
What is the first record of a cash letter record?
Cash Letter Header Record 10
What is contained in a Cash Letter Header Record 10?
-Destination and ECE institution routing number
-Various dates and time
-Code to indicate either: 01 forward cash letter or 03 return cash letter
-Type of return
What is contained in a cash letter control record?
-Bundle total
-item count
-total amount
In a forward presentment record what records are mandatory?
-Bundle header 20
-Check detail 25-contains check MICR data
-Bundle control 70
In a forward presentment record hierarchy, what records will each check item have?
Check detail record 26-return location
Check detail record 28-each subsequent endorser
In a forward presentment record hierarchy, what records will be included with each image view?
Image view detail 50/52-front/back of check (images)
Image view data 50/52- front/back of check (information)
First record of a bundle?
Bundle header record 20
What is contained in the bundle header record?
-destination institution routing #
-various dates
-bundle ID & sequence #
-cycle #
-code indicating forward or return items
-not mixed in same cash letter
What is the bundle control record and what is contained in it?
Closing record
-item count
-total amount
-images within bundle count
(Typically 300 items)
What is included in a check detail record 25?
-micr info from original check
-item sequence # (truncating FI)
-for business checks:aux on us field
(For each check containing in bundle)
Forward item code is?
01
Return item code is what?
03
What is included in the detail addendum A record (26)?
(Endorsement record)
-identifies/provides information on return location
When is a check detail addendum record A required? (Type 26)
When an FI truncated the original physical check.
When is a check detail addendum C record (type 28) required?
When an FI other than the BOFD truncates original check item.
What is the 2 purposes for a check detail addendum C record? (Type 28)
-carry return reason from prior 35 return record (represented item)
- for subsequent endorsement information for each endorsing institution (required for IRD creation)
What is contained in a check detail addendum C record? (Type 28)
-institution that truncated the original check
-defines bank’s role in collection process
-Carries return reason (on represented item)
Return records are also known as what?
Flipping Records
What kind of records are mandatory records in the return record hierarchy?
-Bundle header 20
-Return detail record 31
-bundle control 70
What records will be included with each return item detail record?
-return detail addendum A 32
-return detail addendum B 33
-return detail addendum D 35
-2 pairs of 50/52 image detail record and image data record
