RECURRING DEBIT:

If your business requires that you take regular monthly payments from your customers, this program allows you to debit their checking accounts for payment on a specific date each month. You simply enter into the program the day of the month for each payment, the number of payments, the payment amount, and the information on the checking account that is to be debited. You submit the transaction, the customer's account is debited the same day or the following day, and the funds are deposited to your company checking account the next business day. You are able to immediately access reports on current and previous activity, track individual items and much more. You receive notification of NSF or otherwise rejected items the day after they reject.

Here are just a few of the advantages of this type of program:

1. Speed up your cash flow. Get paid on time, when payments are due, rather than having to wait for a payment to be mailed to you. Reduce your number of past due accounts, while at the same time reducing your collections effort and expense.

2. Electronic transactions take precedence over paper items when a bank is determining which items are to be paid and which are to be returned.

3. Improve your handling of NSF items. You receive notification much faster, plus you can resubmit the item electronically.

4. NSF items can be resubmitted twice electronically after the initial bounce. Paper items can only be resubmitted once after the initial bounce.

This program is available in both web-based and software-based versions.

CHECKS BY PHONE:

If you are doing phone order sales, or if you are contacting customers to have them send in a payment that is already due, you can initiate a one-time debit on the customer's checking account. Using the same program that is used for recurring debit, you simply enter the checking account information, the amount of the payment, and indicate that it is a one-time transaction. You have the same time frames, the same reporting and tracking capabilities, and the same advantages as reflected above for recurring debit.

Here are some additional benefits:

1. If you are doing a phone order sale, reduce the instances of "buyer's remorse" that inevitably occur when the customer is set up to mail in a check the next day. Get the commitment from the buyer now rather than hoping and waiting to receive the check in the mail.

2. If you are collecting a payment already due, get the payment now while you have the customer on the phone.

3. Improve your collection effort and reduce your collection expense.

4. The cost of this type of transaction is much lower than the cost of a "phone order" credit card transaction. There is only a small transaction fee, but there is no discount rate.

LOCKBOX TRUNCATION:

If you are receiving paper checks in the mail, turn them into electronic transactions with this service. You can either utilize the same program used for the services described above, or the checks can be fed into a reader/imager. No matter which method you choose, the paper check is converted into an electronic transaction and is deposited into your checking account the following day. You receive all of the benefits mentioned above for the other EFT/ACH services, plus you greatly reduce both trips to the bank, and the time spent doing bank reconciliation.