Verafin Transaction Files (FPSDR231) |
  
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Verafin Transaction Files (FPSDR231) |
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Availability
This file and report must process daily and can only run once per day. To run this report, your institution must have a license for the Verafin® third-party interface for Bank Secrecy Act (BSA) compliance.
Purpose
Verafin is used to help financial institutions comply with BSA, OFAC, and USA Patriot Act requirements. Verafin accumulates data that is supplied from GOLDPoint Systems loan and deposit systems and performs various calculations using the data. This data can then be accessed through features of Verafin that identify risks specific to the customer. New name records in CIF are checked each day against the OFAC and other required lists, including new names added to the government lists.
A file is uploaded and a report is created for your institution each day. Account numbers are sent based on your institution format. There are eight different categories of transactions sent in the file each day. They are based on the transaction code, transaction type, and funding type (cash, check, or journal).
The eight different categories are:
1.Monetary Instruments (MOI)—Cashier's checks, money orders, and traveler's checks—transaction codes 1410, 1420, and 1440. (If the monetary instrument transaction contains any journal amounts, they will be processed in the "Other" category.)
2.ATM Transactions—Any transaction that is processed at a point-of-sale (POS) device, or deposits made at the ATM.
3.ACH Transactions—Any transaction that is processed as an ACH debit or credit, including Federal Reserve ACH and outgoing customer directed transfer (CDT) transactions. (POP, ARC, and BOC transactions originated through ACH will be processed in the "Check" category.)
4.Wire Transfers—Any transaction processed in GOLDTeller as a tran code 1750 (miscellaneous debit) or 1780 (miscellaneous credit) descriptors 38, 39, 40, or 41. Wire transfers processed through EFT GOLD are exported to Verafin through a separate process and are, therefore, not included on this report (tran codes 1750-03 and 1780-03).
5.Transfer Transactions (XFER)—Any transaction that is processed as a transfer in or transfer out.
6.Check Transactions—Any transaction that is processed with check in or check out as the funding type, including inclearing, on-us, and check deposits, POP, ARC, and BOC SEC codes through ACH. In addition, charge-back transactions processed with transaction code 1750, descriptor 20.
7.Cash Transactions—Any transaction that is processed with cash in or cash out as any portion of the funding type, including ATM cash withdrawal.
8.Other Transactions—Transactions not identified by the categories above will go in the Other category. This includes such things as interest, interest withholding, service charges, fees, journal transactions, and any other system-generated transaction that affects the balance of the account.
The initial files that are created for your institution are processed manually during the day. GOLDPoint Systems will send master and transaction data for the period you specify. This time frame is contingent upon how much history you store for your accounts. The default is 90 days.
Any transaction processed as a correction on the same day as the original transaction will be ignored, along with the original transaction. Any correction processed on a different day than the original transaction will be sent in the file as the reverse of the original transaction. For example, if a correction transaction is processed for a deposit by cash, the correction will be sent as a “cash out” transaction in order to make the net of all transactions for that customer report accurately.
Report Column Information
This report can be sorted and subtotaled by branch, account number, customer identification number, or transaction classification (CLASS). The following two sample reports show the default Verafin report output and a report with the option to display the transaction description. See FPSDR231 Example for an example of this report.
Column Heading |
Description |
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Account Number |
This is the office number (DMACTO), account number (DMACTA), and check digit (DMCKDG) for the account. |
Customer ID |
This is the tax ID number of the IRS owner of the account. This number identifies the customer to the Verafin system. |
Tran-MD-TORC |
This is the transaction code, transaction modifier, and transaction origination code of the transaction listed. |
Trans Date |
This is the date or as-of date, if applicable, that the transaction occurred. |
Class |
This is the transaction classification. It corresponds to the Verafin classification for the transaction listed. Note that–with the exception of monetary instruments–if a transaction contains multiple amount components (such as cash in or check out), then each amount is exported as a separate transaction to the Verafin system. Valid values for this column are CASH, CHECK, ATM, ACH, XFER, MOI (monetary instrument), WIRE, and OTHER. See Purpose above for more details of these classifications. |
Credit Amt |
This is the amount reported to the Verafin system as the total credit amount of the transaction. |
Debit Amt |
This is the amount reported to the Verafin system as the total debit amount of the transaction. |
Net Cash |
This is the net (credit – debit) amount of cash associated with the transaction. |
Net Check |
This is the net (credit – debit) amount of checks associated with the transaction. |
Net Journal |
This is the net (credit – debit) amount of journal associated with the transaction. |
Transaction Description |
This is an optional field that can be included on the report as an additional print line below the net amount information outlined above. It shows the description that was sent to the Verafin system for each transaction. |
Totals and Subtotals Provided
Totals are provided for the number of transactions, the credit amount, and the debit amount.
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GOLDPoint Systems Only: Input Records must be "DM," "MN," and "TG" for a daily run or "DM," "MN," and "DZ" for special runs.
Miscellaneous Parameters Days = 090 (as the default for number of days for history sent in special report); must be blank on daily run. The institution can determine this value.
Miscellaneous Options Check Option 1 to use the Cash transactions. Check Option 2 to use the ACH transactions. Check Option 3 to use theATM transactions. Check Option 4 to use the Other transactions. Check Option 5 to use theCheck transactions. Check Option 6 to use theMonetary instruments. Check Option 7 to use theTransfer transactions. Check Option 8 to use the Wire transfer transactions. Check Option 9 to use the transaction description line. Check Option 15 and Option 16 for a special run and set the Days = 001 to run for a specific date.
These options control the data sent to Verafin and should all be set, except when special runs for individual files are necessary.
The JCL must be set up in order for the Verafin files to process. The Verafin Master File Report (FPSDR230), the loan Verafin Report (FPSRP321), and the configuration for each institution must be set up on the Verafin server for in-house processing or on Tumbleweed® for offsite processing.
FPVERAFN is the program used to send all name and address information to the Verafin database. FPVERAFN processes with Verafin each day, sending the names and addresses changed that day. To catch up any records not previously sent, the prior run date can be changed to incorporate all the records needed by using it as the new start date.
Sorts 80 - Office number (length 2) 81 - Account number (length 5) 82 - Customer ID (length 11) 83 - Transaction classification (length 5) |
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