Vendor Credit Card, Mortgage, or Education Loan Payment

Related Topics

The Vendor Credit Card, Mortgage & Education Payments tab lets you process:

For more information about related topics, see Credit Cards | Mortgage Loans | Vendor Education Loans.

How do I? and Field Help

To access the Vendor Credit Card, Mortgage & Education Payments tab and begin the process of making a payment or advance, complete the following steps:

  1. Under Financial Activity on the Portico Explorer Bar, click Financial Transactions. The Transactions tab appears on top.
  2. Locate the member using the search tool on the top menu bar. Select the down arrow to select the search method, then enter the search criteria. Select the green arrow or press ENTER to locate the member. The member account listing appears at the bottom of the Transactions tab.
  3. On the Transactions tab, click the Transaction Type down arrow and select V-Vendor Credit Card, Mortgage & Education Payments.
  4. The Effective Date field will default to today's date. If completing a vendor education loan payment, credit card payment, or credit card advance, you can change the effective date by clicking the Effective Date down arrow to select a date from the pop-up calendar or entering a date in MM/DD/YYYY format (Keyword: ED). The Effective Date field cannot be modified for vendor mortgage loan payments. Dividend and interest calculations are based on this effective date. While future effective dating is not allowed on most transactions, you can specify a future effective date on some transactions. If your credit union does not use CPS or CSC, credit card payments made after the current day's cutoff time will be transmitted to the vendor on the next business day, but effective dated the day of the actual transaction.
  5. Click the Vendor Loan Type down arrow to select the type of vendor loan. The valid options are: credit card, education, and mortgage.
  6. Click the Account Number down arrow to select the correct account number (Credit Card Keyword: CE). Click the green arrow to reveal basic information about the vendor loan or credit card. All digits of the credit card number will be masked, except for the first 6 digits and last 4 digits of the number. If you are working in Offline Processing, you must manually enter the vendor account number or credit card number.
  7. If making a loan or credit card payment:
    • Select the Update Withdrawal Counter check box to increment the share account's withdrawal counter (Keyword: WD). The number of withdrawals is stored in the Period-to-Date Withdrawals field on the Shares - Activity tab.
    • Select the EFT Indicator check box if this is an EFT transaction (Keyword: ET). The system will automatically select the Force at Month End Because of EFT/Misc Activity check box on the Stmts/Reporting/Notices tab. If the EFT Indicator check box is selected, you must type a statement message in the Statement Messages 1 field.
  8. In the Statement Message Line 1 field, enter the message that should be printed on the member's statement regarding this transaction (Length: 35 alphanumeric/Keyword: SM). If the EFT Indicator check box is selected, you must type a statement message in the Statement Messages 1 field. The statement messages will appear for both accounts affected by the transfer. Statement messages are invalid with an IRA or escrow share account, fee amount, or close account.
  9. In the Statement Message Line 2 field, enter the message that should be printed on the member's statement regarding this transaction (Length: 44 alphanumeric/Keyword: M2). The first statement message field must be entered before this field can be used. The statement messages will appear for both accounts affected by the transfer. Statement messages are invalid with an IRA or escrow share account, fee amount, or close account.

The Vendor Credit Card, Mortgage, Education Payments Transaction Area lets you process payments to credit cards, education loans, and vendor mortgage loans.

Column Heading Description
From Product

The payment method (checks received, cash received, cross account transfer, share account or share draft account).

Keyword: SF

From Amt/Mbr/Acct

Enter the amount to be applied to the credit card or loan. If you selected cross-account transfer, enter the member number in the Amt/Mbr/Acct column. Click the member lookup button to open the Member Search window and locate the member.

Amount Keyword: SP

From Member Keyword: FM

Length: 12 numeric including decimal

CR/CL/... You can click the CR button to open the Cash Received dialog box. You can click the CL button to open the Check Log dialog box. You can activate the Cash Received dialog box and/or the Check Log dialog box on the User Profile - Popups tab.
From Share/Branch If you selected cross-account transfer, a member share or share draft account, click the Share/Branch down arrow to select the correct share account. If you selected a general ledger account, click the Share/Branch down arrow to select the general ledger.
To Product The credit card account or loan.
To Amount

The amount to be applied to the credit card or loan.

Length: 10 numeric.

The amount of the refund due for this transaction. The refund amount may be calculated by the system as the difference between the total of the cash and check amounts, and the total of the transaction and fee amounts.

Keyword: RA

Length: 12 numeric including decimal

When the total amount of the From Side product codes equals the total amount of the To Side product codes, click Submit to complete the transaction.

 

Vendor Mortgage Loan Payments

You can use the Vendor Credit Card, Mortgage & Education Payments tab to make the following types of payments. Any other payment processing or financial activity must be handled directly by the mortgage loan vendor.

  • Regular payment
  • Regular payment with excess to principal
  • Regular payment with excess to escrow
  • Regular payment with excess to interest. Currently not supported by FICS.
  • Regular payment with excess to late fees
  • Principal only payment
  • Escrow only payment
  • Interest only payment. Currently not supported by FICS.
  • Late charge only

You must have override authority to process all of the payments except for the regular payment. If the Teller Override field is Y in the Security Information section on the Credit Union Profile - Security tab, you must have override authority LO to process payments with excess to principal or late fees. You must have override authority AL to process principal only, escrow only, or late charge only payments.

The payments can be made by cash, check, or transfer from the member's share account to the member's loan or to a cross-account loan. Portico will hold the mortgage payments in an online payment file until you download the file to a PC for processing in the FICS Mortgage Servicer system.

To use the Vendor Credit Card, Mortgage & Education Payments tab, the Interface field must be Y in the Vendor Mortgage section on the Credit Union Profile - Loans tab.

Transaction - Vendor Mortgage Loan Payment

To make a vendor mortgage loan payment, complete the following steps:

  1. The Effective Date field will default to today's date. If completing a vendor education loan payment, credit card payment, or credit card advance, you can change the effective date by clicking the Effective Date down arrow to select a date from the pop-up calendar or entering a date in MM/DD/YYYY format (Keyword: ED). The Effective Date field cannot be modified for vendor mortgage loan payments. Dividend and interest calculations are based on this effective date. While future effective dating is not allowed on most transactions, you can specify a future effective date on some transactions. If your credit union does not use CPS or CSC, credit card payments made after the current day's cutoff time will be transmitted to the vendor on the next business day, but effective dated the day of the actual transaction.
  2. Click the Vendor Loan Type down arrow and select Mortgage to make a mortgage loan payment
  3. In the Account Number field, click the down arrow and select the member's account. Then, click the green arrow to retrieve the loan information. The Loan Information group box will display the information for the mortgage loan specified. If you are working in Offline Processing, you must manually enter the vendor account number or credit card number.
  4. Click the Mortgage Payment Type down arrow to select the type of mortgage payment (Keyword: FC). The valid values are:
    1. RP - Regular Payment. System default. The transaction amount minus any refund must equal the scheduled payment amount.
      1. If Regular Payment appears in the Mortgage Payment Type field and a refund amount is not entered, the transaction amount must equal the scheduled payment amount plus the current late charge that is due.
      2. If Regular Payment appears in the Mortgage Payment Type field and the transaction amount does not cover the scheduled payment amount plus the current late charge due, an override teller ID is required.
      3. If Regular Payment appears in the Mortgage Payment Type field and the late charge is greater than zero, the transaction amount must equal the current late charge due plus the scheduled payment amount. If you override the transaction, the system will process just the scheduled payment amount and the excess amount will become a refund. If the transaction amount is greater than the scheduled payment amount but does not cover the current late charge due, you must enter the overage as the refund amount.
    2. EP - Excess to principal amount. FICS will post the regular payment and apply the remainder of the amount minus any refund to the loan principal.
    3. EE - Excess to escrow payment. FICS will post the regular payment and apply the reminder of the amount minus any refund to the escrow account.
    4. EI - Excess to interest payment. FICS will post the regular payment and apply the remainder of the transaction amount minus any refund to interest due. Currently not supported for Mortgage Computer.
    5. EL - Excess to late charges. FICS will post the regular payment and apply the remainder of the transaction amount minus any refund to late charges.
      1. If Excess to Late Charges appears in the Mortgage Payment Type field and a refund amount is not entered, the transaction amount must equal the scheduled payment amount plus late charges. Refund amounts will be calculated after all late charges are satisfied.
      2. If Excess to Late Charges appears in the Mortgage Payment Type field and the transaction amount does not cover the scheduled payment amount plus the late charge, you must change the payment type to Regular Payment and then override the transaction.
      3. If Excess to Late Charges appears in the Mortgage Payment Type field and the late charge is greater than zero, the transaction amount must equal the current scheduled payment amount plus any late charge.
    6. PO - Principal only payment. FICS will apply the transaction amount minus any refund to the loan principal.
    7. EO - Escrow only payment. FICS will apply the transaction amount minus any refund to the escrow account.
    8. IO - Interest only payment. FICS will apply the transaction amount minus any refund to interest due. Currently not supported for Mortgage Computer.
    9. LC - Late Charge only payment. FICS will apply the transaction amount minus any refund to any outstanding late charges. Currently not supported for Mortgage Computer.
  5. In the From Product column, select the payment method (checks received, cash received, cross account transfer, share account, share draft account, or loan advance).
  6. In the Amt/Mbr/Acct column, enter the amount to be applied to the loan.
    • If you selected cash, the Cash Received dialog box will pop up automatically when the cursor is in the From Amount column. You can also access the Cash Received dialog box by clicking the CR button in the transaction area grid. You can activate the Cash Received dialog box on the User Profile – Popups tab.
    • If you selected check, the Check Log dialog box will pop up automatically when the cursor is in the From Amount column. You can also access the Check Log dialog box by clicking the CL button in the transaction area grid. You can activate the Check Log dialog box on the User Profile – Popups tab.
    • If you selected cross-account transfer, enter the member number in the Amt/Mbr/Acct column. Click the member lookup button to open the Member Search window and locate the member. Then, click the Share/Branch down arrow to select the correct share account.
    • If you selected a member share or share draft account, click the Share/Branch down arrow to select the correct share account. If the source of funds is a share transfer from either the same member or from a cross account, only the share withdrawal appears on the member's statement and member history. The history code for an online transfer is TR with the statement message LOAN PAYMENT TRANSFER, and the code for an Audio Response transfer is AR with the message EFT LN PMT TRANSF.
    • If you selected a general ledger account, click the Share/Branch down arrow to select the general ledger.
  7. In the To Product column, select the loan.
  8. In the Amount column, enter the amount to be applied to the loan.
  9. Select the Update Withdrawal Counter check box to increment the share account's withdrawal counter (Keyword: WD). The number of withdrawals is stored in the Period-to-Date Withdrawals field on the Shares - Activity tab.
  10. Select the EFT Indicator check box if this is an EFT transaction (Keyword: ET). The system will automatically select the Force at Month End Because of EFT/Misc Activity check box on the Stmts/Reporting/Notices tab. If the EFT Indicator check box is selected, you must type a statement message in the Statement Messages 1 field.
  11. If desired, enter a statement message in the Statement Messages fields.
  12. Click Submit.

If the Delinquent Mortgage Loan check box is selected on the Credit Union Profile – Shares tab, Portico will determine if the vendor mortgage loan is delinquent before authorizing the use of Courtesy Pay funds. The Loan is Delinquent indicator will appear on the Transactions - Vendor Credit Card, Mortgage & Education Payments tab, Loan Maintenance and Inquiry dialog box, the Loans tab, and the Overdraft Protection dialog box.

If the Require Override on Share W/D for MTG/CC check box is selected in the Delinquency Options section on the Credit Union Profile – Loans tab, Portico will require a teller override before permitting share transfers or withdrawals when the member has a delinquent credit card or vendor mortgage loan. A Remove Restriction on Courtesy Pay Funds check box will appear on the Transactions - Vendor Credit Card, Mortgage & Education Payments tab, Loan Maintenance and Inquiry dialog box, and the Loans tab to let you remove the restriction of Courtesy Pay funds and allow future transactions to be posted to Portico without a teller override. If the mortgage loan is delinquent and you have determined that the payment applied is sufficient to cover the full delinquency amount, you must select the Remove Restriction on Courtesy Pay Funds check box to stop debit card or ATM transactions from being denied at authorization time.

Only the member information and the total amount received will print on the receipt if the source of funds is cash, check or a combination of cash and checks. If the source of funds is transfer, the share balance will also print.

The Loan Information group box displays the following information for the mortgage loan.

Field Description

Payment Amount

The payment amount due on the mortgage loan.

Length: 9 numeric including decimal

Keyword: SP

Late Charge Amount

The late charge amount assessed on the mortgage loan.

Length: 8 numeric

Keyword: LC

Unpaid Late Charges

The amount of late charges assessed that have not been paid. This amount is from previous months and does not include the current month's late charge.

Length: 7 numeric

Keyword: UC

Due Date

The next payment due date for the mortgage loan.

Length: 6 numeric

Keyword: PD

Loan Balance

The current balance of the mortgage loan.

Length: 12 numeric including decimal

Escrow Balance

The balance in the loan's escrow account for tax and insurance purposes.

Length: 11 numeric

Keyword: EB

General Ledger Effects: If the source of funds code is cash, check or a combination of cash and checks, the following general ledger effects occur:

  • CREDIT XXXXXX Clearing general ledger account specified in the Vendor Mortgage section on the Credit Union Profile - Loans tab
  • DEBIT 739200 Teller cash general ledger account

If the source of funds code is transfer, the following general ledger effects occur:

  • CREDIT XXXXXX Clearing general ledger account specified in the Vendor Mortgage section on the Credit Union Profile - Loans tab
  • DEBIT 901XXX Share general ledger account specified on the Share Profiles - Account Information tab

Related Reports:

  • Vendor Mortgage Payment Report 960
  • Transfer/Distribution Register Report 266
  • Financial Transaction Register Report 420

Teller Balancing Effects: If the source of funds code is cash, check or a combination of cash and checks, the Balancing and Close tab reflects the following:

  • Adds the total loan payment amount to the Loan Payments amount field
  • Adds the total amount received to the Drawer Balance amount field
  • Adds the cash amount to the Cash Received and the Currency Balance amount fields
  • Adds the check amount to the Checks Received amount field
  • Adds one to the Loan Payments count field

If the source of funds code is transfer, the Balancing and Close tab reflects the following:

  • Adds the share transfer amount to the Share Withdrawal amount field
  • Adds one to the Share Withdrawal count field
  • Adds the transaction amount to the Transfers/JV amount field
  • Adds one to the Transfers/JV count field

If your credit union uses Teller Security Phase 3, the Portico Host 668 Transaction must be in your security group.

Correction Procedures:

  • To reverse the transaction on the same day, perform the Reversals - Same Day Reversals tab.
  • Any prior-day corrections must occur on the vendor mortgage system since this is where the mortgage loan resides.
  • If the mortgage loan payment involved cash or check, you must perform a journal voucher transaction between the bank general ledger account and the FICS clearing general ledger account.
  • If the payment was made by share transfer, you must perform the appropriate journal voucher transaction to correct the share side of the transaction. Usually this means transferring the money from the FICS clearing account to the share account. The loan must be corrected on the FICS system by a mortgage officer.

 

Vendor Education Loan Payments

Vendor Education Loan Payments can be applied online using the Transactions – Vendor Credit Card, Mortgage & Education Payments tab, Mail Work tab, or Transactions - Deposits, Withdrawals, Payments, Transfers tab. The Transactions – Vendor Credit Card, Mortgage & Education Payments tab and Transactions - Deposits, Withdrawals, Payments, Transfers tab support the posting of vendor education loans by cash, check and share transfer. These payments are then transmitted to the education loan vendor.

When calling the credit union audio response unit, members can make vendor education loan payments through the financial transaction menu or access their loan balance through the balance inquiry menu. The education loan balance inquiry reflects the balance, next payment due date, payment amount and interest rate if these fields contain valid values.

Education loan payments are stored in a batch file, then are transmitted to the education loan vendor via File Exchange (XROADS). Payments are accepted for that day's batch transmission until the cut-off time indicated in the Cut-off Time field in the Vendor Education Loans section on the Credit Union Profile – Loans tab. Payments accepted after the cut-off time are included in the following business day's batch transmission.

Payments are credited to the clearing GL account and credit union branch indicated in the Vendor Education Loans section on the Credit Union Profile – Loans tab. This transaction also produces a financial CAN. For research purposes, transactions may be found on the:

  • Teller Journaling - Inquiry tab
  • GL Information – GL Activity tab (reflected in GL balance)
  • History – Financial Transaction History tab (if payment by share transfer)
  • GL Information – GL History tab (following day)
  • Audit Trail Report 990

Portico does not check the education loan information before allowing a payment to be made nor do we update this information as payments are made. Member information is not updated until the payment batch file is sent to File Exchange (XROADS) and File Exchange (XROADS) sends the file to the education loan vendor. The education loan vendor posts the payments and sends an updated balance file back to File Exchange (XROADS), who forwards the updated file to Portico. The Portico system uses this data to update the account information and the inquiry information fields of the Transactions – Vendor Credit Card, Mortgage & Education Payments tab. With this process, the turnaround between a payment being applied and the balance change being reflected on Portico is a minimum of 2 days.

The Transactions – Vendor Credit Card, Mortgage & Education Payments tab lets you process payments to vendor education loans.

Transactions - Vendor Credit Card, Mortgage & Education Payments

To make a education loan payment, complete the following steps:

  1. The Effective Date field will default to today's date. If completing a vendor education loan payment, credit card payment, or credit card advance, you can change the effective date by clicking the Effective Date down arrow to select a date from the pop-up calendar or entering a date in MM/DD/YYYY format (Keyword: ED). The Effective Date field cannot be modified for vendor mortgage loan payments. Dividend and interest calculations are based on this effective date. While future effective dating is not allowed on most transactions, you can specify a future effective date on some transactions. If your credit union does not use CPS or CSC, credit card payments made after the current day's cutoff time will be transmitted to the vendor on the next business day, but effective dated the day of the actual transaction.
  2. Click the Vendor Loan Type down arrow and select Education to make an education loan payment.
  3. In the Account Number field, click the down arrow and select the member's loan note number. Then, click the green arrow to retrieve the loan information. The Borrower/Loan Information group box will display the information for the education loan specified. If you are working in Offline Processing, you must manually enter the vendor account number or credit card number.
  4. In the From Product column, select the payment method (checks received, cash received, cross account transfer, share account, share draft account, or loan advance).
  5. In the Amt/Mbr/Acct column, enter the amount to be applied to the loan.
    • If you selected cash, the Cash Received dialog box will pop up automatically when the cursor is in the From Amount column. You can also access the Cash Received dialog box by clicking the CR button in the transaction area grid. You can activate the Cash Received dialog box on the User Profile – Popups tab.
    • If you selected check, the Check Log dialog box will pop up automatically when the cursor is in the From Amount column. You can also access the Check Log dialog box by clicking the CL button in the transaction area grid. You can activate the Check Log dialog box on the User Profile – Popups tab.
    • If you selected cross-account transfer, enter the member number in the Amt/Mbr/Acct column. Click the member lookup button to open the Member Search window and locate the member. Then, click the Share/Branch down arrow to select the correct share account.
    • If you selected a member share or share draft account, click the Share/Branch down arrow to select the correct share account. If the source of funds is a share transfer from either the same member or from a cross account, only the share withdrawal appears on the member's statement and member history. The history code for an online transfer is TR with the statement message LOAN PAYMENT TRANSFER, and the code for an Audio Response transfer is AR with the message EFT LN PMT TRANSF.
    • If you selected a general ledger account, click the Share/Branch down arrow to select the general ledger.
  6. In the To Product column, select the loan.
  7. In the Amount column, enter the amount to be applied to the loan.
  8. Select the Update Withdrawal Counter check box to increment the share account's withdrawal counter (Keyword: WD). The number of withdrawals is stored in the Period-to-Date Withdrawals field on the Shares - Activity tab.
  9. Select the EFT Indicator check box if this is an EFT transaction (Keyword: ET). The system will automatically select the Force at Month End Because of EFT/Misc Activity check box on the Stmts/Reporting/Notices tab. If the EFT Indicator check box is selected, you must type a statement message in the Statement Messages 1 field.
  10. If desired, enter a statement message in the Statement Messages fields.
  11. Click Submit.

The Borrower/Loan Information group box displays the following information for the education loan.

Field Description

Last Name

The borrower's last name. This field cannot be maintained by the credit union.

Length: 15 alphanumeric

First Name

The borrower's first name. This field cannot be maintained by the credit union.

Length: 12 alphanumeric

Middle Initial

The borrower's middle initial. This field cannot be maintained by the credit union.

Length: 1 alphanumeric

SSN

The borrower's Social Security Number (SSN).

Length: 10 numeric

Vendor Phone

The phone number of the education loan vendor.

Length: 10 numeric

Status

The status of the education loan. The valid values are:

I - In -School The borrower is currently enrolled full-time and has not separated from school and begun his/her grace period.
G - Grace The borrower has separated from school and is in the grace period between school status and repayment status of his/her loan.
P - Repayment The borrower has completed the grace period and begun the time period of repaying his/her loan. The borrower may be in forbearance period as well as in active repayment status with this value.
D - Deferment The borrower is currently in a deferred status; the deferment period has begun but has not yet ended.
F - Forbearance A period of time which borrower is permitted to temporarily cease making payments or reduce the amount of the payments. The borrower is liable for the interest that accrues on the loan during the forbearance period. An eligible forbearance may be granted by the lender or servicer.

Interest Rate

The current interest rate assessed on the education loan.

Length: 5 numeric

Original Principal Balance

The original principal amount of the education loan.

Length: 8 numeric

Current Principal Balance

The current principal amount due on the education loan. This amount does not include any applicable late charges.

Length: 8 numeric

Next Payment Due Date

The next payment due date for the education loan.

Length: 6 numeric

Keyword: PD

Payment Amount

The payment amount due on the education loan.

Length: 8 numeric

Last Payment Effective Date

The last date a payment was made on the education loan.

Length: 6 numeric

Payments applied using the Transactions – Vendor Credit Card, Mortgage & Education Payments tab or Transactions - Deposits, Withdrawals, Payments, Transfers tab will be reflected in the following manner on the Balancing and Close tab:

  • Cash Payment - The payment will be reflected in the teller’s cash received, currency balance, teller batch totals, drawer balance and loan payment amount on the Balancing and Close tab.
  • Check Payment - The payment will be reflected in the teller’s checks received, total deposit, teller batch totals, drawer balance and loan payment amount on the Balancing and Close tab.
  • Share Transfer - The payment will be reflected in the teller’s transfer amount and teller batch totals on the Balancing and Close tab.

Portico does not check the education loan balance or payment information before allowing a payment on the Transactions - Deposits, Withdrawals, Payments, Transfers tab. Applying a payment using the Transactions - Deposits, Withdrawals, Payments, Transfers tab will not cause the balance of the education loan to be changed on the Account Listing grid on the Account Information – Overview tab and Transactions tab.

General Ledger Effects:

  • DEBIT 739200 Teller cash general ledger account for the total amount received, or for the difference of the total amount received minus the refund amount, if cash refund
  • DEBIT 901XXX Share general ledger account specified on the Share Profiles - Account Information tab for the total payment amount
  • CREDIT XXXXXX Vendor Education Loan Payment general ledger designated in the Vendor Education Loans section on the Credit Union Profile - Loans for the total payment amount
  • CREDIT 739100 Cash disbursed general ledger account for the cash refund amount

Related Reports:

  • Vendor Education Loans Daily Activity Report 335
  • Vendor Education Loans Daily Exception Report 336
  • Vendor Education Loans Payment Daily Batch Transmission Report 337

Teller Balancing Effects: The Balancing and Close tab reflects the following:

  • Adds the total loan payment amount to the Loan Payments amount field
  • Adds the transaction amount to the Transfers/JV amount field
  • Adds one to the Transfers/JV count field on the Balancing and Close tab
  • Adds the total amount received to the Drawer Balance amount field
  • Adds the cash amount to the Cash Received and the Currency Balance amount fields
  • Adds the check amount to the Checks Received amount field

If the member receives a refund, the Balancing and Close tab reflects the following:

  • Adds the check refund amount to the Checks Disbursed and Refunds Disbursed amount fields
  • Adds the cash refund amount to the Cash Disbursed and Refunds Disbursed amount fields
  • Subtracts the cash refund amount from the Currency Balance amount field

A vendor education payment does not update the Account Listing grid during the transaction. The Account Listing grid is updated when the education loan vendor sends an update file.

Correction Procedures: To reverse the transaction on the same day, perform the Reversals - Same Day Reversals tab. For a prior-day correction, perform the Adjustments - Share Deposit from General Ledger tab to reverse the transaction.

 

Credit Card Payments

The Vendor Credit Card, Mortgage & Education Payments tab lets you process credit card payments.

Transactions - Vendor Credit Card, Mortgage & Education Payments

To make a vendor credit card payment, complete the following steps:

  1. The Effective Date field will default to today's date. If completing a vendor education loan payment, credit card payment, or credit card advance, you can change the effective date by clicking the Effective Date down arrow to select a date from the pop-up calendar or entering a date in MM/DD/YYYY format (Keyword: ED). The Effective Date field cannot be modified for vendor mortgage loan payments. Dividend and interest calculations are based on this effective date. While future effective dating is not allowed on most transactions, you can specify a future effective date on some transactions. If your credit union does not use CPS or CSC, credit card payments made after the current day's cutoff time will be transmitted to the vendor on the next business day, but effective dated the day of the actual transaction.
  2. Click the Vendor Loan Type down arrow and select Credit Card to make a credit card payment.
  3. In the Account Number field, click the down arrow and select the member's account. Then, click the green arrow to retrieve the credit card information. All digits of the credit card number will be masked, except for the first 6 digits and last 4 digits of the number. The Credit Card Account Information group box will display the information for the credit card account specified. All inquiry information is transmitted to Portico by the credit card processor. If you are working in Offline Processing, you must manually enter the vendor account number or credit card number.
  4. Click the Transaction Type down arrow and select Payment.
  5. In the From Product column, select the payment method (checks received, cash received, cross account transfer, share account, share draft account, or loan advance).
  6. In the Amt/Mbr/Acct column, enter the amount to be applied to the loan.
    • If you selected cash, the Cash Received dialog box will pop up automatically when the cursor is in the From Amount column. You can also access the Cash Received dialog box by clicking the CR button in the transaction area grid. You can activate the Cash Received dialog box on the User Profile – Popups tab.
    • If you selected check, the Check Log dialog box will pop up automatically when the cursor is in the From Amount column. You can also access the Check Log dialog box by clicking the CL button in the transaction area grid. You can activate the Check Log dialog box on the User Profile – Popups tab.
    • If you selected cross-account transfer, enter the member number in the Amt/Mbr/Acct column. Click the member lookup button to open the Member Search window and locate the member. Then, click the Share/Branch down arrow to select the correct share account.
    • If you selected a member share or share draft account, click the Share/Branch down arrow to select the correct share account. If the source of funds is a share transfer from either the same member or from a cross account, only the share withdrawal appears on the member's statement and member history. The history code for an online transfer is TR with the statement message LOAN PAYMENT TRANSFER, and the code for an Audio Response transfer is AR with the message EFT LN PMT TRANSF.
    • If you selected a general ledger account, click the Share/Branch down arrow to select the general ledger.
  7. In the To Product column, select the credit card account number.
  8. In the Amount column, enter the amount to be applied to the credit card. All digits of the credit card number will be masked, except for the first 6 digits and last 4 digits of the number.
  9. Select the Update Withdrawal Counter check box to increment the share account's withdrawal counter (Keyword: WD). The number of withdrawals is stored in the Period-to-Date Withdrawals field on the Shares - Activity tab.
  10. Select the EFT Indicator check box if this is an EFT transaction (Keyword: ET). The system will automatically select the Force at Month End Because of EFT/Misc Activity check box on the Stmts/Reporting/Notices tab. If the EFT Indicator check box is selected, you must type a statement message in the Statement Messages 1 field.
  11. If desired, enter a statement message in the Statement Messages fields.
  12. Click Submit.

The Credit Card Account Information group box displays the following information for the credit card account.

Field Description

Card Loan Type

The loan type associated with the credit card.

Length: 2 alphanumeric

Block Codes

The one-character code used to specially process an account. The customized field description for the one-character code will appear on the Loans - General tab.

Block Code 1 is used for CPS/CSC only. This field can be customized using the Customized Fields window. Since this is a customizable field, the field in CPS/CSC and Portico should have matching information.

Length: 1 alphanumeric

Block Code 2 is for CPS only. Not used by CSC. This is a customizable field in Portico and VisionPLUS. The VisionPLUS field and the Portico field should have matching information. This field can be customized using the Customized Fields window.

Length: 1 alphanumeric

Minimum Payment Amount

The minimum credit card payment amount due as determined by the credit card vendor.

Length: 8 numeric including decimal

Keyword: SP

Current Balance on Card

The current balance of the credit card account according to the credit card vendor.

Length: 12 numeric including decimal

Credit Limit

The maximum credit limit on the credit card account according to the credit card vendor.

Length: 9 numeric

Keyword: LM

Available Credit

The credit limit minus the current balance on the credit card according to the credit card vendor.

Length: 7 numeric

Rate

The annual rate assessed on the credit card balance according to the credit card vendor.

Length: 6 numeric including decimal

Retail/Cash Advance APR

The annual rate assessed for retail purchases and cash advances.

Length: 6 numeric including decimal

Account Status

The current condition of the credit card account.

For CSC, this is the internal status code received from CSC. Valid values that will display for CSC:

  • When internal status code D is received from CSC, Delinquent will display.
  • When internal status code O is received from CSC, Over Limit will display.
  • When internal status code X is received from CSC, Over Limit + Delinquent will display.
  • When blank is received, blank will display. The account is normal or has a credit balance.

Valid values that will display for CPS:

  • A - Active
  • B - Conversion fraud
  • C - Conversion transfer
  • D - Dormant
  • F - Fraud Transfer
  • H - Closed/conversion
  • I - Inactive
  • J - Transfer in, migrated from inactive
  • K - Transfer out, migrated from inactive
  • M - Migrated
  • N - New
  • P - To be purged in next reload
  • O - Transfer in today
  • R - Transfer out today
  • T - Transfer
  • V - Conversion
  • X - Charge-off/conversion
  • Z - Charge-off
  • 8 - Closed
  • 9 - To be purged after reload

This information is transmitted by the credit card processor. Portico does not check the credit card balance or payment information before allowing a payment. Applying a payment does not cause the balance of the credit card to be changed on the Account Listing grid immediately. The Account Listing grid is updated when Portico receives an updated balance file from the credit card processor.

Due Date

The next payment due date for the credit card account according to the credit card vendor.

Length: 6 numeric

Keyword: PD

Delinquent Amount

The total delinquent amount on the credit card account according to the credit card vendor. A delinquency indicator will appear if the Delinquent Amount field is greater than 0.00.

Length: 9 numeric

Expiration Date

The month and year the credit card expires according to the credit card vendor.

Length: 4 alphanumeric

Format: MM/YY

Date Opened

The date the credit card account was originally opened.

Length: 6 numeric

Collection Purge Date

The date the credit card account was last purged from Collections. If Collections is not used or the credit card account is still in collections, this field will display 000000. If the same credit card has purged from Collections multiple times, this date will be the last time the account was purged.

Length: 6 numeric

Credit Card Integration Payments and Advances

Credit Card Integration Payments and Advances allows you to view balances on Portico and apply payments and credit card cash advances online that are transmitted back to the credit card vendor. Credit Card Integration is available for FIS, Credit Processing Solutions (CPS), and Fiserv Card Services Credit (CSC).

For credit card balances and information, credit card processors transmit balances to Portico via File Exchange (XROADS). You can receive balance files daily, weekly, or monthly, depending on the agreement with your credit card processor. In general, the balance file only contains members with credit card activity. A complete balance file containing all members with credit cards is transmitted to Portico once a month.

Credit unions using FIS can transmit name and address updates for existing cardholder. Portico collects name and address updates for existing cardholders and sends them in a batch file to FIS during the Portico back-office cycle. Only the TBS platform, 2100 format, and record type 8 are supported. The 2000 Base platform and Pass-Thru platform with FIS are not supported.

Credit unions using CPS and CSC can:

  • view credit card balances and information
  • review credit card history
  • access individual account or joint account information
  • update owner information, including address maintenance and seasonal address changes
  • activate a card or order a new or replacement card
  • process near-real time credit card payments and advances
  • accept credit card payments using audio response, online banking, Transfer File, and the Transactions tab
  • review credit card activity via CSC reports available in Nautilus Essentials and My Reports

Credit unions using CSC can use Credit Choice. Credit Choice is a fully integrated credit card program that allows financial institutions to provide a branded credit card to consumers through an issuing partner without taking on all of the risks and resources normally required to support a credit card program. With Credit Choice, a credit union can restrict non-financial updates for all accounts, consumer accounts only, or business accounts only.

You can accept credit card payments using Audio Response, Online Banking, Transfer File, the Transactions - Vendor Credit Card, Mortgage and Education Payment tab, Transactions - Deposits, Withdrawals, Payments and Transfers tab, and Mail Work tab. CPS and CSC users can process advances using the Deposits, Withdrawals, Payments, Transfers tab and Vendor Credit Card, Mortgage & Education Payments tab. Any of the transactions will update the Available Credit field on the Transactions – Vendor Credit Card, Mortgage and Education Payments tab and Loans – General tab.

Portico will process CPS and CSC credit card payments and cash advances in near real-time. CPS and CSC payments and advances will be sent to CPS and CSC intermittently throughout the day (approximately every 15 minutes). This includes online banking payments, online teller payments, offline teller payments, and online cash advances. Teller reversal transactions will function in a similar manner. Transfer File payments are sent first thing in the morning. If the transmission containing the Transfer File payment was not successful, the Transfer File payment will continue to be sent throughout the day until successful.

When the transaction is completed, you will receive the standard Financial Transaction Complete message in the status bar. The CPS/CSC Online Inquiry indicator message will change to CPS/CSC Pending Activity which means a payment or advance has been made in Portico and has not been sent to CPS/CSC. The CPS/CSC Pending Activity message will continue to appear until the transaction is sent to CPS/CSC. Once the transaction has been sent, the indicator message will change back to CPS/CSC Online Inquiry.

For Non-Teller Administration credit unions, payments will be reflected in the following manner on the Balancing and Close tab:

  • Cash Payment - The payment will be reflected in the teller’s Cash Received, Currency Total, Drawer Balance and Loan Payments fields on the Balancing and Close tab
  • Check Payment - The payment will be reflected in the teller’s Checks Received, Drawer Balance and Loan Payments fields on the Balancing and Close tab.
  • Share Transfer - The payment will be reflected in the teller’s Transfers\JV field on the Balancing and Close tab.

For Teller Administration credit unions, payments will be reflected on the teller’s balancing transactions:

  • Cash Payment - The payment will be reflected in the Drawer Cash Receipts and Teller Batch Totals fields on the Balancing and Close tab.
  • Check Payment - The payment will be reflected in the Checks for Deposit, Total Deposit, and Teller Batch Totals fields on the Balancing and Close tab.
  • Share Transfer - The payment will be reflected in the Teller Batch Totals field on the Balancing and Close tab.

Loan is Delinquent Indicator

A Loan is Delinquent indicator will appear if the Delinquent Amount field on the Loans - General tab is greater than 0.00. When completing a payment transaction online, Portico will compare the payment amount and the delinquency amount. If the payment posted satisfies the total delinquent amount in full, Portico will automatically update the Loan is Delinquent indicator on the credit card record allowing future activity to be posted for the member without a teller override for a delinquent credit card.

General Ledger Effects:

  • DEBIT XXXXXX GL account specified in the From Account field. It will debit this GL for the branch specified. If no branch is specified, the branch debited will be the branch from which the transaction is being performed
  • DEBIT 739200 Teller cash general ledger account for the total amount received, or for the difference of the total amount received minus the refund amount, if cash refund
  • DEBIT 901XXX Share general ledger account specified on the Share Profiles - Account Information tab for the total payment amount
  • CREDIT XXXXXX Credit card clearing account designated on the Loan Profiles - Additional Information tab for the total payment amount
  • CREDIT 739100 Cash disbursed general ledger account for the cash refund amount

Related Reports: Credit Card Payment Daily Batch Transmission Report 742

Teller Balancing Effects: The Balancing and Close tab reflects the following:

  • Adds the total loan payment amount to the Loan Payments amount field
  • Adds the transaction amount to the Transfers/JV amount field
  • Adds one to the Transfers/JV count field
  • Adds the total amount received to the Drawer Balance amount field
  • Adds the cash amount to the Cash Received and the Currency Balance amount fields
  • Adds the check amount to the Checks Received amount field

If the member receives a refund, the Balancing and Close tab reflects the following:

  • Adds the check refund amount to the Checks Disbursed and Refunds Disbursed amount fields
  • Adds the cash refund amount to the Cash Disbursed and Refunds Disbursed amount fields
  • Subtracts the cash refund amount from the Currency Balance amount field

Correction Procedures: To reverse the transaction on the same day, perform the Reversals - Same Day Reversals tab. For a prior-day correction, perform the Adjustments - Share Deposit from General Ledger tab to reverse the transaction.

 

Credit Card Advances

For credit unions that use CPS or CSC, the Vendor Credit Card, Mortgage & Education Payments tab lets you process credit card advances.

Credit Card Advance

To make a vendor credit card advances, complete the following steps:

  1. The Effective Date field will default to today's date. If completing a vendor education loan payment, credit card payment, or credit card advance, you can change the effective date by clicking the Effective Date down arrow to select a date from the pop-up calendar or entering a date in MM/DD/YYYY format (Keyword: ED). The Effective Date field cannot be modified for vendor mortgage loan payments. Dividend and interest calculations are based on this effective date. While future effective dating is not allowed on most transactions, you can specify a future effective date on some transactions. If your credit union does not use CPS or CSC, credit card payments made after the current day's cutoff time will be transmitted to the vendor on the next business day, but effective dated the day of the actual transaction.
  2. Click the Vendor Loan Type down arrow and select Credit Card to make a credit card cash advance.
  3. In the Account Number field, click the down arrow and select the member's account. Then, click the green arrow to retrieve the credit card information. All digits of the credit card number will be masked, except for the first 6 digits and last 4 digits of the number. The Credit Card Account Information group box will display the information for the credit card account specified. All inquiry information is transmitted to Portico by the credit card processor. If you are working in Offline Processing, you must manually enter the vendor account number or credit card number.
  4. Click the Transaction Type down arrow and select Advance.
  5. The From Product column will default to the credit card number selected in the Account Number field. All digits of the credit card number will be masked, except for the first 6 digits and last 4 digits of the number.
  6. In the Amount column, enter the amount of the cash advance.
  7. In the Member column, enter the account number of the member receiving the loan advance. Click the member lookup button to open the Member Search window and locate a member.
  8. In the To Product column, select the disbursal method from the Disbursal Choices drop-down list.
  9. If the To Amount column, enter the loan advance amount.
  10. If desired, enter a statement message in the Statement Messages fields.
  11. Click Submit.

Credit card advances are sent to CPS/CSC intermittently throughout the day using the same process as credit card payments.

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