1) What is changing with AFP
include more relevant service codes, more pricing descriptions and better
pricing information overall. AFP is
providing more data points, accredited AFP codes and more descriptive statistics
(Hi, lo, Median and Average) for the pricing information. AFP is discontinuing the geographic breakout (Northeast, Southeast, Midwest,
etc.) and company size (Large, Medium, Small) breakouts as pricing trends are
moving towards the large national market. AFP is keeping the same
pricing convention with level I as a member benefit and level 2 as an added
subscription. More codes were added
including new service lines such as payroll cards, trade finance and SWIFT
bringing the total to over 90 codes for level 1 and 280 codes for level 2.
2) When do the changes go into
Pricing Changes for level 1 and level 2 pricing are effective June 23rd.
3) Will the old pricing be
available in the old format?
we don’t have the ability to run two different versions of level 1 and level 2
4) What are the differences
between the old level 1 vs. new level 1 pricing? Same for Level 2?
reference this chart which explains the differences and added codes. (Level 1
and 2 AFP Checkmarks)
5) How often is the bank pricing
Bank Pricing is updated quarterly.
6) Are the Bank Pricing Price
points verified for AFP Service Codes?
AFP reviewed all 280+ codes for level 1 and level 2 combined to make sure they
are certified for the correct product description against AFP’s list of service
codes. Additional information from Informa Research Services is provided in the
description line for more clarity.
7) What are the advantages of
having certified bank prices and AFP Codes?
are able to compare price while conducting an RFP. Include Bank Pricing with The AFP RFP Resource
Center and you’ll save time and money by streamlining your bank pricing review
process as part of managing the RFP process.
8) Who can I contact if I have
Hunt, AFP’s Director of Treasury Services.