Cheque Reconciliation Service (CRS)

Benefits:

• Helps to reduce losses due to cheque fraud by use of Positive Pay, Negative Pay or Positive Pay with Payee Match options
• Saves time by eliminating the tasks of sorting cheques, matching paid cheques to the cheque register and bank statement and, filing/retrieving of cheques
• Reduces errors through automation
• Simplifies bookkeeping by providing comprehensive information on current chequing activity
• Eliminates the need for multiple bank accounts by using disbursement categories
• Flexible period ends dated to coincide with your accounting period saves you time
• Input and output options provide a fast and flexible means of communicating cheque information between your company and TD Securities.
  

Core Features:

• A dedicated service team to work with you in bringing your account on line as quickly as possible
• Help Desk Support
• Customer inquiries (including lodging of stop payments), can be handled by your assigned team of specialists, or you can choose the optional feature of our on-line services
• Positive Pay - an effective tool available to help prevent cheque fraud by detecting raised dollar amounts, counterfeit and duplicate cheques. Positive Pay requires that you send a transmission to TD Securities containing details of cheques about to be issued. We will notify you daily of any unmatched cheques. Notify the Bank by 2:00PM the same day of your Pay - No Pay decision.
• Positive Pay with Payee Match - the MOST effective tool to protect your business against cheque fraud. As an add on service to Positive Pay, not only will Positive Pay with Payee Match detect raised dollar amounts, counterfeit and duplicate cheques, the service will also detect altered payee names on cheques. We will notify you daily of any payee discrepancies. You will notify us of your Pay - No Pay decision by 2:00PM the same day.
• Negative Pay - an alternative to Positive Pay; is also designed to help protect your company against frauds and forgeries. By 9:00AM daily we will provide you with an electronic file listing all cheques paid on your CRS accounts from the previous day. You match these cheques against your issued file and notify us by 2:00PM on the same day of any cheques to be returned.
• Your choice of a fixed, weekly, bi-weekly, semi-monthly, monthly, or variable reconciliation schedules. Reports are available at your TD Canada Trust or TD Commercial Branch within seven business days of period end.
• Reconciliations are balanced to your CRS Dedicated CDN$ or US$ CDA Account bank statement(s). Only CRS items will be posted to the account to ensure accuracy.
• Input/Output File Options are in a standard 80-Byte format. Transmission can be by way of Web Business Banking File Transfer (our PC gateway to electronic Banking), mainframe, or our PC Entry Program. Alternative formats are available upon request.
• Inbound transmissions are acknowledged in the same medium as the file you sent the Bank
• Standard input option allows you to include a reference number and/or payee
• Up to 10 Digit Serial Numbers
• Ten different informative reports to choose from
  

Optional Service Features

• Serial Numbers: you have a choice of serial number length (min. 6 digits max. 10 digits which can be used to establish disbursement categories
• CRS On-Line Inquiry: through Business Windows On-Line Services you can inquire on the status of any record in your file (90 days paid history)
• On-Line Stops: through Business Windows On-Line Services you can lodge a stop payment for any cheque drawn on your account (one year history). The stop is effective immediately.
• On-Line Create/Cancel: through Business Windows On-Line Services you can create or cancel an issue record
• CD-ROM cheque image: a powerful tool to help you respond to customer inquiries
• Cheque Safekeeping: the Bank will store your cheques for 7 years
• CDN$ or US$ Non dedicated account for processing of non-CRS entries
• Payee/Reference Input: you can include payee or reference number information in your input file
• Transmission Acknowledgement: we offer an acknowledgement of every transmission received indicating whether the file was accepted or rejected (with a reason)