CashEdge

Consumer Transfers FAQ

Market Drivers

1. Does the number of financial institutions with which a consumer interacts affect the need for online funds transfer capabilities?
   Yes; With an increase in the total number of financial institutions each consumer interacts with, there is a greater demand for online funds transfer capabilities. According to the 2008 CashEdge Consumer Survey, 95 percent of respondents have accounts housed at more than one financial institution, 68 percent of which have accounts at three or more institutions. As such, it comes as no surprise that respondents show a growing demand for and usage of online funds transfers - 45 percent report using this service in 2008.
2. Is the ability to transfer funds online important to consumers?
   Yes; consumers surveyed in the 2008 CashEdge Consumer Survey indicate an increase in usage and adoption of online funds transfers. This service is used in a variety of ways, including: to transfer funds online between accounts, to transfer money to a checking account (i.e., to pay bills), to transfer money to a general purpose savings account and to take advantage of a higher interest rate.

About Consumer Transfers

1. How many transfers did CashEdge process in 2008?
   CashEdge processed more than $46 billion in online funds transfers in 2008.
2. What money movement options are available for the consumers?
   TransferNow® for Consumers offers multiple transfer options including one-time, recurring or future-dated to meet each individual's specific needs. It also provides the financial institution with multiple options for configuration, from next-day funds availability to three-day funds turnaround.
3. Can customers transfer money to third parties who have accounts at different institutions?
   Yes, Third Party Transfers enables financial institutions to offer customers the ability to securely transfer funds from their account to the accounts of close contacts, including friends and family, held at over 23,000 banks, credit unions and brokerages via the ACH network.
4. How does CashEdge ensure optimized payment operations?
   CashEdge handles all aspects of ACH processing, including exceptions, resubmissions, inquiries, etc. and features five daily ACH submissions and the latest ACH deadline in the industry.

Risk Management & Security

1. How does CashEdge verify the identity of a user to ensure it is a legitimate transaction?
   CashEdge establishes the authenticity of a user's ID instantly by performing identity checks, which include posing challenge questions to a user that only the true owner of the ID would know.
2. How does CashEdge verify the external funding account?
   CashEdge uses three primary methods, including instant and two-day methods, that combine proprietary technology and information from best-of-breed data sources to verify the account.
3. How are the transfers secured?
   All of CashEdge's funds transfer services are supported by the Company's risk management capabilities that combine access to best-of-breed risk management tools and databases with comprehensive, proprietary technology and the insights gathered from managing risk for the world's largest financial institutions which help institutions mitigate risk and decrease fraud exposure.

Deployment & Integration

1. What are the integration options?
   Integration options for all TransferNow for Consumers product modules include XML API and fully-hosted to enable a seamless and tight integration with the financial institution's existing processes and online banking environment.
2. Does TransferNow enable institutions to meet with federal compliance regulations?
   Yes, TransferNow for Consumers enables institutions to comply with all applicable regulations, including Regulation E, NACHA, GLB, FCRA and U.S. Patriot Act.