EBA and Fed Funds As Agent
Fed Funds Liquidity Line
Letters of Credit Services
Credit Card Services
Employee Retirement Plans
Merchant Card Processing
Cash Letter / Image
Coin & Currency
STARS™ Settlement Services
Confidential Record Destruction
|STARS™ Settlement Services
STARS™ (Settlement Transaction And Reporting Service) is an Internet based fully secured (128-bit encryption with digital certificates) bank-to-bank communications system. It is a complete correspondent banking information portal that is required for doing business with BBN.
Our comprehensive settlement service allows clients to process transactions and settle all activity that is currently processed through an account at the Federal Reserve Bank. This service offers one simple, safe, secure and quick way to process and reconcile all daily activity without having to manage reserve requirements or the inherent problems with daylight overdrafts. This communication system is especially developed for the correspondent banking industry.
• Cash Letter, including adjustments and 100% availability
• Comprehensive ACH processing, including originations, warehousing and calendaring
• Fed Check Adjustments
• Domestic Wire Transfers
• International USD Wire Transfers
• Non-USD International Wire Transfers utilizing real-time exchange rates
• Large Dollar Return Notifications
• Vault Cash Orders & Deposits
• Biometric Multi-factor Authentication
• Fed Fund and Excess Balance Account (EBA) investment orders
• Account-to-Account transfers
• Automated, built-in OFAC scanning for all ACH and wire activity
• On line, real-time activity and balance reporting.
• Sole settlement agent – one place to go for all activity instead of multiple sites
• Internet based, fully secure delivery channel
• Eliminates your Fedline terminal
• Automate many time consuming tasks
• Simple, clear and concise data entry screens
• Improved operational efficiencies
• Online reporting
• No software to manage
• Eliminate the worry of reserves and daylight overdrafts
• 24/7 access
All correspondent services provided by BBN may be paid with either compensating balance earnings credits or hard dollar charges as designated by the client bank.
Request Information regarding SETTLEMENT SERVICES using the STARS™ system.