Automated Check Clearing House

Lockbox or check truncation ... If you seriously want to increase your cash flow, turn a paper check into an electronic check

Lockbox or check truncation provides a tool to transform checks to get your money faster! Need fast funds settlement? Want to access each check transaction online? Come closer and realize the benefits of our lockbox or check truncation system.

Imagine you own a thriving mail order business that receives a multitude of checks all over the country. Your representatives deposit the checks in a financial institution where they generally take five days to clear. Of course, some will be NSF (insufficient funds) or bounce due to closed or frozen accounts but your business will not learn about these problems until days or even weeks elapse! Trouble-shooting and account reconciliation becomes extremely time-consuming and, of course, aggravating.

Do you - this mail order mogul - have a better way to handle checks? Yes, if you use our lockbox that converts checks received in payment via mail and processes these payments through the Automated Clearing House (ACH) network. In other words, instead of going to a bank to deposit checks, the checks are automatically sent through a payment gateway (representative does not even have to leave the office) where each payee's account is debited. The easy process will help your business rise above the competition.

Improves float time so you can get your money faster.
Eliminates the need for deposit slips or trips to the bank.
Decreases the possibility of lost or stolen checks.
Lowers associated NSF fees.
Allows you to redeposit bounced checks.
Eases payroll reconciliation.
Saves time as it is an automation tool.

If you've got checks ... we have the ideal time-and-money-saving tool for you. Our lockbox efficiently takes these paper payments and transforms them to electronic checks to be processed through the Automated Clearing House, a federally regulated electronic payment network. You get your payments faster and cheaper, fully confident that the procedure is completely safe and secure. Rest assured, 95% of the country's financial institutions use the Automated Clearing House.

Step 1 - The consumer mails the check payment and remittance stub to the lockbox.

Step 2 - Your employee scans the checks with a check reader or RDM imager.

Step 3 - Check truncation takes place as the check data is transferred from the reader or imager into our lockbox software.

Step 4 - Payments can now become electronic checks that are submitted over the Automated Clearing House.

Step 5 - You receive your money, generally within 3-4 days and each transaction is reflected on your customers' bank statements (e.g., "CHECK PAYMENT" indicated on statement).

* Notify your customers about this lockbox system when you send your bills. They can either opt-in by explicitly authorizing you to truncate their check or opt-out by informing you that they do not wish to have their check truncated.

Again, truncating the check and converting it to an Automated Clearing House transaction, pays immediate dividends. It is simply more efficient and less time-consuming than presenting a paper check for payment (i.e., no more deposit slips, trips to the bank, etc.). Imagine receiving hundreds of checks or even thousands a day. Instead of logging all transactions on deposit slips and taking all the checks to the bank, it seems much more advisable to quickly scan the checks and batch all subsequent electronic checks via the lockbox software. If there are any NSF checks, you will find out much faster with our lockbox than the conventional paper check deposit way. You can even redeposit all NSF checks immediately (up to two additional times).

Furthermore, our lockbox service is cheaper. You no longer have bank deposit fees or bank charge (NSF) fees. You also decrease check processing and handling costs. Moreover, our lockbox is priced at a "best buy" rate and can compete with any lockbox system currently on the market.

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Automated Check Clearing House