Fed Prepares Customers for Check-Processing Moves

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Fed Prepares Customers for Check-Processing Moves

In an effort to inform customers of upcoming changes to check and cash operations, the Federal Reserve Banks of Cleveland, Richmond and St. Louis have been conducting check-restructuring meetings throughout the districts.

Details are being shared at the meetings, including transition dates, deposit deadline changes, transit locations, and accounting and billing changes, as well as presentment and packaging requirements.

Here is a brief summary of what customers in Charleston, W.Va., Little Rock and Louisville can expect as operations shift to Cincinnati and Memphis.

Charleston to Cincinnati

The Charleston Branch of the Richmond Fed moves its check-processing operations to the Fourth District’s Cincinnati Branch as of 4 p.m. Friday, June 25. After the shift, Charleston customers can either ship items directly to Cincinnati or drop them off at the following transit location by the deadlines listed below:

Executive Air Terminal Inc.
400 Eagle Mountain Road
Charleston, WV 25311

Little Rock to Memphis

The Little Rock Branch’s check operations will shift to Memphis after the 11 a.m. city fine sort deadline on Friday, July 23. Little Rock customers should drop off their items at the transit location by the deadlines that follow:

Ace Logistics
1101 Harrington
Building 11—Suite 3
Little Rock, AR 72202

The Federal Reserve will transport all work received at the Little Rock transit location to the Memphis Branch for processing. If preferred, customers may also deliver their items directly to Memphis. Memphis is already handling adjustments processing for Little Rock customers.

Louisville to Cincinnati

Louisville check-processing operations will shift to the Fourth District’s Cincinnati Branch after the 10 a.m. city fine sort deadline on Friday, Aug. 27. After that date, customers will drop off their work at the Louisville transit location by these deadlines:

Details on the Louisville transit location are being finalized and will be announced to customers as soon as possible.

The Federal Reserve is committed to providing check-clearing services to all markets nationwide and will do everything possible to minimize the impact on customers. For more information about these changes, contact your account executive or visit www.frbservices.org/Retail/CheckInfrastructure.html.

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