FedEDI Upgrade Boasts Several New Features

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Last month, the Federal Reserve distributed new FedEDI Version 3.0 software to financial institutions that translate special addenda records attached to ACH files. These records allow businesses and the federal government to exchange payments and payment-related information in a timely manner.

Version 3.0 contains a number of enhancements that will improve the ways that users process reports and control security settings. Some of the new features include several system processing preferences, improvements in the File Processing options and the Help System, a Marketing Information Report and three additional access levels in Security Setup. The new software is also written to include the ANSIX12 translation logic, NACHA 2000 rule changes and fixes for Version 1.0 problems.

The Fed has set a sunset date of Dec. 31, 2000, for the FedEDI DOS product. Customers using FedEDI DOS should consider upgrading to a Microsoft® Windows-supported product now to avoid the need to upgrade again later in the year. FedEDI software runs on PCs using Windows 95®, Windows 98® and Windows NT® operating systems. This software is a stand-alone product and, therefore, does not integrate with FedLine for Windows.

The Fed asked financial institutions to upgrade to the Version 3.0 software by Sept. 11. Customers who have not observed this deadline will no longer be able to import and process files. If you need assistance, or if you're not currently using FedEDI software and would like a free copy, contact an Electronic Access Support representative at (314) 444-8711, or toll-free at 1-800-333-0861, then press "1" for Electronic Access Support.