Credit unions utilizing the Corporate Share Draft program are able to review and act upon corporate share draft exceptions. Presented drafts that result in an exception will display on the Exceptions tab. Exception examples include stop payments, duplicate items, and non-sufficient funds.
Not validating drafts on a daily basis opens the credit union to significant risk of loss, as all draft returns - including those of fraudulent nature - must be submitted prior to the cutoff time the day after the draft cleared.
The Exceptions card contains a table of current exceptions. To quickly set a date range, Users may select the Today, Last 30 Days, Last 60 Days, and Last 90 Days tabs located at the upper left side of the card. Once the draft type and date range have been selected, sorting and filtering is available on all columns. Click the arrow next to the column header to sort the column. The orange arrow indicates which column is currently sorting the information. Search within a column by typing information into the Search box located just under the column header, or by utilizing the column dropdown, if available. Specify a custom date range by providing From and To dates in date columns. To clear filters, click the x located in the search box, or click the Clear filters option at the top right side of the card. To view images, click the orange Search button once desired filters have been set. Results may be exported to Excel by clicking the Export to XLSX button.
Clicking the blue dropdown of an exception will display pertinent draft information. Users may review the information, and then determine if the exception must be corrected, or if the item may be posted. If a correction is needed for the item it may be requested by selecting the Create Draft Corrections toggle.
Items that need corrections - adjustments or returns - will be submitted to the corporate for review and processing. Items to be returned must be submitted by the cutoff time the following business day after the draft was presented for payment.