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Settlement Services

Whether settlement involves the presentment of forward collection checks to the Paying bank or the delivery of return items to the Depositary bank, Liberty Processing will work with all parties to establish the settlement channel desired by / compatible with our customer’s existing settlement practices. Liberty Processing’s technology and procedures readily provide anticipated settlement data for all cash letters processed on behalf of the financial institution and are customizable to the particular customer’s specifications.

In cooperation with SVPCo, Liberty Processing has established a reliable and secure online, multilateral settlement system which simplifies the settlement of funds between collecting and paying banks. SVPCo’s systems have been relied on for many years to deliver safe, reliable, and secure settlement in the banking industry. This process, if selected, eliminates the daily need for multiple settlement wire transfers and provides a simple solution to settle with multiple financial institutions through a single net settlement book entry to your respective Fed account.

Should settlement be selected via a funds transfer, Liberty Processing will work with the Collecting and Paying banks to ensure appropriate procedures and controls are in place and that settlement practices remain in compliance with existing financial controls & risk tolerance parameters.

Leveraging the knowledge and experience of our operations staff and working with our customer base, Liberty Processing can also assist in the research and resolution of settlement differences to ensure both timely posting of subsequent adjustments and minimal usage of existing settlement staff resources.