Direct2Fed is a leading edge, high-speed solution that allows banks to send checks directly to the Federal Reserve in a Fed approved Image Cash Letter. Checks are scanned utilizing PAYTEK’s web-based software and imaging device, processed and uploaded directly to the Federal Reserve in a DSTUX9.37-2003 file prior to 8PM ET. Credits are then applied to your deposit account by the Fed. Contact Us to learn more about Direct 2 Fed.
Benefits of Service
- Eliminate transportation costs
- All items imaged and stored FREE
- Remote Deposit System included FREE
- Ability to scan payment coupons
- Files batched for posting
- Eliminating higher clearing costs