Premium OD GL Transfer

This application will isolate specific NSF transactions for Pending/Immediate processing institutions. It will move the fee amount to a different general ledger number, and add an internal transaction description to the existing fee transaction.

Benefits

Designed for institutions that use Premium Overdraft for DNA in Pending and Immediate Processing mode, the Premium OD GL Transfer DNAapp allows users to differentiate Premium Overdraft NSF fees from traditional insufficient fund fees based on whether or not an item was paid. Providing customers/members with this additional level of detail should help reduce support requests and improve the customer experience while simultaneously enabling institution staff to perform more granular fee income analysis.

Without this app, the transaction description for a Premium Overdraft fee generated from paying an insufficient ACH and Inclearing item is "Insufficient Funds" – the same as the transaction description for an unpaid item fee. Because both types of fees display the exact same message, it is difficult for customers/members as well as institution staff to determine whether a particular fee was assessed for covering an item using Premium Overdraft or not.

The Premium OD GL Transfer DNAapp solves this problem by identifying certain Premium Overdraft fees with a custom message and moving the fee amounts to a user-defined GL account. It allows customers/members to easily identify which fees were assessed for using their Premium Overdraft balance to pay an item versus NSF fees assessed for items that were not paid. Internal staff gain the ability to separate Premium Overdraft fee income from unpaid-item, NSF fee income for more granular fee income analysis and Premium Overdraft program evaluation.

New parameter(8TYC) is added which allows the institution to specify which fee transaction types to append the internal description. The internal fee description for each transaction type is defined by the external cross reference table.