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Attention Fiserv Bill Pay Users!
Do you know about FraudNet?
FraudNet is a real-time monitoring tool that takes each payment scheduled by your member in the Easy Pay site and runs it through an extensive algorithm, spotting key factors that indicate potential fraud, and generating an alert for review.
In the last year alone, FraudNet identified $2,422,133.12 in potential fraud, stopping $280,657. 57 in actual fraudulent transactions. Wow!
We here on the SettleMINT team are proud to offer this service free of charge, and monitor these alerts to curb loss for your members, but your team plays an integral role as well. As we cannot make the decisions to hold or release these transactions ourselves, we have designed procedures to ensure payments get made or sent back in a timely manner.
If there is an alert that requires your attention, the SettleMINT EFT team will notify you via AnswerBook during one of the two time periods listed below:
Between 8-9am ET (Respond by 2pm ET same day)
Between 2-3 PM ET (Respond by 8am ET next day)
excluding weekends and holidays
It is extremely important that you respond to the SettleMINT EFT team via AnswerBook by the times listed above. If we do not hear from you by the time indicated, then the payment will remain on hold for up to 5 business days, after which the payment will be automatically stale dated, not delivered, and could cause the member late fees or penalties for non-payment.
Please review your FraudNet contacts, assure that you have at least two staff members who are responsible for responding to the alerts, and register in the AnswerBook.
Please contact the SettleMINT EFT team to change, add, or remove your FraudNet contacts at any time.
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Compromised Cards
A compromised card situation is something that no financial institution wants to encounter, but with recent massive large retailer breaches making headlines, it's no secret that fraud is inevitable.
When a compromised card situation occurs, the SettleMINT team is ready to assist!
First, receive your relevant potential fraud information from your vendor. Contact the SettleMINT team and let us know you're interested. We'll take your Excel file of cards, and take care of the ordering new cards, and closing the old, providing you with detailed reports along the way.
Please click here to review our Compromised Card offerings. |
Incremental Authorizations
In conjunction with Release 13.3, we implemented the next phase of our ongoing efforts to assure that we are processing member transactions in the most compliant method - incremental authorizations.
The change was implemented November 7th, 2013 for online clients using FIS, Co-Op, Star, and JHA for ATM, Debit, and Credit card processing. Fiserv clients received the update on December 3rd, 2013, and CU*Northwest and CU*South client received the update on December 13th, 2013. Elan clients were already in production.
This change improves the way that CU*BASE processes holds for incremental authorization transactions, allowing a better member understanding of their available balance, as well as an important step in preparing for the next phase of incremental transactions.
We are excited to bring these updates and improvements to you! |
Did you receive a vendor mandate?
If you ever receive communication from your vendor, please be sure to send it to the SettleMINT EFT team! Although we do receive these communications regularly, we are always accepting information that you have been provided. Just send us an email, and we'll take care of the rest! |
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SettleMINT EFT Solutions
focuses on electronic payment product offerings.
We understand how important ATM, Debit and Credit Card servicing, Instant Card Issue, Bill Payment and Shared Branching
can be for your members.
We provide expert service for daily client support, product enhancements and EFT Conversions as well as consulting services.
Click here for our website!
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Time for some Spring cleaning!
Did you know that the SettleMINT EFT team can help you keep your vendor card database in sync with your CU*BASE card database?
To purge hot and/or closed cards from CU*BASE, we can select a date and with little to no turn around time, delete the cards from the CU*BASE database!
To go one step further, we can create a project to generate a file of deleted cards to send to your vendor to purge from their database.
Please contact the SettleMINT EFT team to begin the process!
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Do you have something exciting, time-saving, or helpful that you do in your EFT department that you would like to share with your peers? Feel free to send your ideas to the SettleMINT EFT team, and we can include them in the newsletter!
Click Here to Email Us! |
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Give your members a laugh with these corny jokes!
What does a nosy pepper do?
Gets jalepeno business!
It's hard to explain puns to kleptomaniacs because they always take things literally.
Why didn't the lifeguard save the hippie? Because he was too far out, man!
Have you ever been in the middle of eating a horse and said "I guess I'm not as hungry as I thought I was?"
How does NASA organize their company parties?
They planet!
Two fish are in a tank. One turns to the other and says "How do you drive this thing?"
I just went to an emotional wedding; even the cake was in tiers!
You want to hear a pizza joke? Nevermind...it's pretty cheesy.
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