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We have worked with a number of offices that want send a communication to their clients to
confirm certain types of transactions. We hear many different names for the communication,
including:
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- Transaction Acknowledgement
- Transaction Advice
- Advice Letter
- Confirmation Letter
- Advice Slips
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The thing that all of these programs have in common is the timing. The letter is produced at
the time of the transaction, rather than waiting for a recap on statements printed at the end of
the month or quarter.
TrustNet is built with two set-up features that make it easy to configure your letters.
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- In Transaction Code Maintenance, you can designate which transaction
codes should be included in the letters. This can be with a simple
Yes/No scheme, or a more sophisticated structure with standard and
extended formats.
- In Related Party Maintenance, you can designate which parties should
get advices for each account. If some accounts don’t need an advice,
don’t designate any parties for that account. If some accounts need an
advice sent to more than one party, designate each one.
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To this structure, we add one program that selects the transactions
and formats the communication. Here are some ideas and possibilities: |
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- The program could print an entire letter on plain paper, including
your letterhead.
- The program could print the body of the letter on paper that is
pre-printed with your letterhead.
- The program could print on a fill-in-the-blank form.
- The program could print different versions of the letter for different
situations. For example, some types of transactions might print a
different letter than others.
- The program could export information that you would use import to Word
with Mail-Merge process
- The program could create an e-mail to certain parties and either click
SEND for you or
put the e-mail in your Outlook Drafts folder so you have a chance to
review.
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Some offices design the letters as a two-way communication, asking the
client to sign and return a copy for the files. This could be used for
situations where you want a written confirmation of a telephone request
from a client.
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An Advice Letter program adds value to the core system by … |
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- making it easy to communicate with clients on the day that certain
transactions occur.
- providing compliance with FDIC section 344.5
which requires trade confirmation communication with clients.
- providing
a written confirmation of telephone trade requests if you use a letter
designed to be returned with a signature.
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