Yes. You can submit a check issue file through web-based file transfer within Key Total Treasury or directly to Key via direct computer-to-computer transmission. This data can also be part of a Consolidated Payables file.
Yes. You can manually enter information using the Account Management module on Key Total Treasury.
Your ARP outbound file can be labeled:
- Paid and Outstanding
- Paid, Outstanding, Void and Stop
The minimum is 4; the maximum is 10.
Yes, you will receive a daily file. However, at month end, the daily file will be combined with the month end file on one file. This file may not be separated. This means that the last day of the month is not by itself. You can filter out that day from the month end report.
The following methods are available for you to send your check issuance file to Key:
- Direct computer-to-computer transmission:
- File Management
- Consolidated Payables file
- Web-based file transfer through Key Total Treasury
- Manually enter the issuance data through Key Total Treasury’s Account Management Module
Yes, the ARP reconciliation report date and DDA statement date must match. If implementing an ARP service mid-month, your DDA statement will be cut twice. The first cut will be prior to the implementation and the second cut will be at month end. You cannot backdate a statement cut date.
Key does not offer ARP reconciliation reports in Excel due to compliance requirements. While not offered or supported by Key, there are commercially available software programs that convert a PDF to Excel.
Service start date coincides with your first full statement cycle. The implementation date is the date testing is completed and the file moves into production.
Effective with your start date, items will be available for you to view during the testing phase. Contact your Treasury Services Payments Advisor for your service start date, which may occur prior to transmission testing being completed.
No. Key already has the issuance data. Any new data for the same check number will reject. An implementation date will be communicated once testing has successfully been completed. Only items issued after that date will go through the Payee Name Recognition process.
The "lead account" processes all files sent, regardless of the account number. When a file is processed, the total items will show on the "lead account" and the detail will show on the Audit Report for the account the file was sent to.
The mailbox ID is your access to process a file on our Key Total Treasury website. If you send a file to an incorrect mailbox ID, it will not process.
The file confirmation on Key Total Treasury is a confirmation of connectivity. Actual file data cannot be validated until the file updates into the reconciliation software during Key’s nightly batch processing. On the next day at 8:00 a.m. ET, you may review file data using the Audit List of Issues.
No. If you send a bad file, you will need to contact the ARP Operations mailbox (ARP Transmissions@KeyBank.com) or call the assigned reconciler so that the bad file can be backed out of the ARP software. If the bad file is not backed out, the second file sent will reject because the check numbers are the same.
If transmission testing is not completed, there is an increased potential for exposure to fraud. Additional time and resources are also required to manually review paid transactions. Completing testing and sending files in a timely manner reduces the number of exception items that must be reviewed and then paid or rejected. These items need to be reviewed daily.
Two options are available:
- New Account Number – Open a new ARP Account dedicated to Full Plan Positive Pay services and closing out (over time) the Partial Plan account. A periodic change in account numbers is a standard fraud protection practice.
- Account Conversion with History of Issue Records – Provide a History Issue File of all Outstanding Issue Records of (checks yet to pay). Providing Key with a history of issue records will reduce Positive pay exceptions on the Key Total Treasury Mismatch Report and at the Teller line.