2024 Holiday Processing Calendar
The following is a list of holidays observed by the Federal Reserve Banks for 2024. FSB will be closed on these dates, so adjustments to your processing schedule may be needed.
FSB cannot process ACH files and wire transfers dated for Federal holidays. If you have any questions on how these dates may affect your processing schedule, please contact FSB at 319-730-6962.
Authorization & Pre-Notifications
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Ensure you have written authorization from your customers and have provided them with a copy of their signed authorization. Keep copies of these authorizations on file for two years after your last electronic transfer to the authorized account. Periodic audits of authorizations will be performed.
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If you choose to send pre-notifications, send them at least three business days before the first live transaction.
Handling Return Error Codes & Notification of Changes
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If you receive returns relating to pre-notifications you have sent indicating that the receiving bank cannot accept such entries, do not initiate any further entries to the account.
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If you choose to originate “micro entries” you must use “ACCTVERIFY” in the company entry description field.
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If you receive NOCs (Notifications of Change) on items you originate, requested changes should be made within six banking days or before initiating the next entry, whichever is later. Failure to do so is a violation of Nacha rules.
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If entries are returned to you for the following reasons, you must not reinitiate entries to those customers until you obtain a new proper authorization:
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For R01 - Insufficient Funds and R09 - Uncollected Funds: Reinitiation is allowed for up to two additional attempts
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R07 – Authorization Revoked by Customer: Do not reinitiate without new authorization
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R08 – Payment Stopped: Do not reinitiate without resolving the issue.
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R10 – Customer Advises Not Authorized: Obtain new authorization before reinitiating.
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R11 - Error in Transaction: Correct the error (e.g., wrong date or amount) before resubmitting.
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If you need to reverse a file or entry, you must do so in such time as to be transmitted or made available to the receiving bank within five banking days following the settlement date of the erroneous entry or file.
Security & Communication
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Protect your computer against potential security threats. Use antivirus software and keep up on critical patches. Utilize a firewall, and don’t “surf” with the computer used for banking.
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All sensitive information must be transmitted securely using a commercially reasonable level of encryption. Our secure email system is available for your convenience. If you still need to register, please contact FSB's eCommerce department.
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Farmers State Bank must be notified when an employee is terminated, no longer employed, or their job description changes, affecting access to the ACH system.
Submission Cutoff Times
FSB's daily “cutoff” times to submit files are:
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Credits must be made by 2:00 p.m. two days before the effective date, and debits must be made by 2:00 p.m. one day before the effective date.
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Files prepared by FSB: Credits by 10:00 a.m. two days before the effective date; debits by 10:00 a.m. one day before the effective date.