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AFP Releases New Service Codes

  • By Staff Writers
  • Published: 2013-11-21

Since 1986, AFP Service Codes© have been recognized as the standard for identifying balances and charges that appear on account analysis statements and in responding to RFPs.

The 2013 AFP Service Codes© include 247 new codes for banking services that have become more widely adopted in recent years in addition to revisions to over 443 codes to reflect changes since the 2008 edition. In addition to new and modified codes, AFP has identified a number of outdated codes for services that banks no longer offer; in these cases, we refer users to a more appropriate code. This edition is produced as part of AFP's continuing commitment to promote standardization in treasury practices and banking reporting.

Corporate treasury places a premium on the rapid and efficient processing of information. AFP Service Codes© are tools that bring efficiency to the analysis of bank compensation. Standardized service codes:

  • Enable resource-constrained treasury staff to produce actionable analyses in minimal time.
  • Help treasury managers track the increasing number of services they receive from banks.
  • Guide cost-sensitive treasury managers in receiving value for price in their banking services.
  • Organize, rationalize and automate a complex, tedious chore.

In today's increasingly complex treasury management environment, businesses and banks have concluded that using AFP Service Codes© in bank reporting provides value to both parties. The 2013 AFP Service Codes are available by subscription and are available to AFP members at a discounted price.

Purchase a subscription to the AFP Domestic Service Codes.

Subscribers Access the Domestic Service Codes.

Copyright © 2014 Association for Financial Professionals, Inc.
All rights reserved.

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