Document Exchange allows parties to share and view documents in an easy-to-read format with a payment or request for payment. Below are answers to some frequently asked questions. To find more information, visit our document library or contact us directly.
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FAQs
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What is Document Exchange?
Document Exchange is an overlay service that enhances RTP® functionality by connecting easy-to-read documents such as bills, invoices, and remittances with payment or request for payment messages. Senders now have a way to provide a receiver with the context for a payment or request for payment at the same the payment or request is sent.
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How does Document Exchange work?
Document Exchange uses a set of APIs to share easy-to-read PDF documents between parties. Each document has a unique identifier that can be included within select RTP messages (currently RTP® Credit Transfer and Request for Payment.)
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How can an end-user retrieve a document that has been sent through the Document Exchange?
The receiving financial institution creates its customer experience. This could be a clickable button that retrieves and renders the document on the financial institutions online banking portal.
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What documents are accepted?
Currently, Document Exchange supports the exchange of PDF documents.
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Is there a file size limit?
Document Exchange currently support files up to 2 mb.
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How many documents can be sent at a time?
One document can be included with each RTP Credit Transfer or Request for Payment.
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Do I need to be an RTP participant?
Yes. Financial institutions must be on connected to the RTP® network directly or through a third-party and be certified to send a Credit Transfer and/or a Request for Payment.
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Can I use Document Exchange with the RTP® network?
Yes. Document Exchange is compatible with RTP® Credit Transfer and Request for Payment messages. Additional messages and TCH networks may be included in the future.
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Can I use Document Exchange with other TCH networks?
Additional TCH networks may be included in the future.
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What are the use cases for Document Exchange?
Document Exchange is suitable anywhere you want to provide context for a payment or a request for payment. Consider the following:
- Merchant settlement with statement
- On-demand payroll with a paystub
- Payroll corrections with paystub
- Insurance payouts
- Vendor payments with remittance details
- A request for payment with a bill as a reminder for the amount owed
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Who is using Document Exchange?
Document Exchange is working on an end-to-end pilot, which will be completed prior to market availability. Contact Us if your organization is interested in joining the pilot.
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How is Document Exchange priced?
Pricing will be determined after the pilot is completed.
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What rules govern Document Exchange?
Document Exchange participants will need to comply with the service’s participant agreement.
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How does my institution join Document Exchange?
Contact TCH at tchproduct@tch.com for more information on how to get your organization onboarded to Document Exchange today.
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Curious about upcoming events and key dates?
Check out the Document Exchange key dates under Contact Us.