Increase

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Typically, bank accounts have a single account number. This one-to-one mapping means reconciliation often needs to be done manually, as all activity is tied to the same identifier. With Increase, you can instantly create multiple account numbers for a single account and manage them programmatically. This unlocks many interesting use cases and allows you to create and manage your own ledger or use Increase as your system of record. Learn more: https://lnkd.in/gTSDBQWn

When building support for remote deposit capture (RDC), be aware of potential failures related to parsing the Magnetic Ink Character Recognition (MICR) strip of a check. In 2015, an extra digit (the number 6) was introduced to the MICR code to identify remotely created checks[0]. However, many banks and RDC tools are unable to process the MICR line when this extra digit is present, leading to unintuitive and often frustrating errors. Some RDC tools allow you to manually enter the MICR line, which can be helpful in these instances. However, others may not. If you’re depositing remotely created checks, watch for the extra digit 6. [0] https://lnkd.in/gV2dfFSy

If you’re operating an ACH integration, you’ll sometimes receive return requests beyond the allowed window. NACHA rules for late return requests require that you provide the receiving institution with evidence that the debit was authorized by the account holder. At scale, this process can be manual and toilsome. Luckily, we’ve built an API for responding to these requests that can automate this workflow. Learn more at: https://lnkd.in/gEpn23sn 

Managing ACH returns can be challenging when operating an ACH integration. When a bank cannot process a transfer, it sends a return with a specific Return Reason Code indicating the issue. There are over 80 codes, specifying issues from a closed account (R02) to a deceased account holder (R15). Understanding the return reason and reconciling returned transactions with the originating ones can be difficult. With Increase, returns are automatically correlated with the originating transfer. You can view all return details, including the Return Reason Code and associated transfers, in one place, making it easy to quickly understand and respond to returns. Read more at: https://lnkd.in/eu6BUsm5

We’ve rolled out new transaction category filters. You can now filter your transactions for: • Returned transfers • Declined transfers • Stopped checks • Card declines • Card refunds • Interest payments • Fee payments • and much more…

You can now build and monitor programmatic controls for your compliance program. These automated checks ensure you stay compliant as you grow. Track the status of your controls directly from the Dashboard.

You can now configure single sign-on for the Dashboard and easily manage your team’s access. Contact us if you’d like to set it up!

Lots of work still happens in Excel, especially if you’re running a compliance program. We aim to make it easy for people to interact with Increase. Our CSV upload tool allows you to preview your submitted data and includes smart features like date parsing and column validation to help optimize your workflows.

You can now respond to inbound checks via webhook. This provides you with the ability to build your own positive pay system on top of increase! You can create your own evaluation logic to resolve any issues with a deposit, including creating just-in-time funding if an account balance is low. Read more at https://lnkd.in/gCwhC87Y