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Cash Letters > CashLet®
Windows-Based Cash Letter Banking System
Benefits
- Capture additional customer activity via faster, more reliable service
- Improve customer retention through value-added service offering
- Build competitive edge by offering often-overlooked customer service
- Improve efficiency without adding overhead via broad STP features
- Enhance bottom line without increasing manpower
- Sustain above-average ROI
Overview
CashLet® is Surecomp’s new multi-currency foreign cash letter system. The field-proven, cost-effective Windows-based solution automates the entry and processing of checks remitted in outgoing cash letter deposits. Adopting the characteristics of a bank's working practices, CashLet generates an array of system messages including cover letters, account entries, customer advices, and detailed listings of all bundled items. Flexibly designed for individual bank conformity, the OFAC-compliant, user-friendly system makes all proof adjustments as well as any other required accounting entries, including fees.
To ensure that each processed cash letter is unique, CashLet automatically assigns newly received items with a routing code containing information such as relevant currency code, cash letter bank name, customer bank account number, cash letter bundle size, number of transit days, and special handling instructions. Equipped with robust inquiry and reporting features, CashLet also monitors agreed-upon customer credit at all stages of the process, and flags a warning if the credit line is exceeded.
Fully automating the check-handling process by receiving items from internal or external proofing departments, branches or correspondents, CashLet accelerates processing time and considerably reduces user input error to boost a bank’s bottom line significantly.
Advantages
- Full straight-through processing (STP) – maintains full STP capabilities enabling accompanying batch processing structure to ensure a swift, effortless and cost-saving procedure.
- Direct deposit processing – features direct deposit processing capabilities that automate all necessary processing including encoding, endorsing, microfilming, and creating and balancing the outgoing cash letter.
- In-depth inquiry and reporting – conducts real-time inquiries via an array of search criteria, and provides a variety of reporting options that can be displayed or printed.
- Fee scheduling – provides a range of fee scheduling options including standard fee, user specific fee, foreign currency rate adjustments and customer credit lines.
- Foreign currency call limit – flags an account that has exceeded its currency limit.
- Return reasons table – enables, via a flexible, free-flow entry, the creation of a databank of reasons for a check’s return, with the relevant reason appearing on the customer’s debit advice.
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