Even with the best intentions, some of your customers will have difficulty making every monthly payment to your office on time. You can continue to spend a small fortune on sophisticated billing and collection systems, or you can switch to one of the fastest growing methods for receiving monthly payments. It's called eBanking Automated Payments.
Automated Payments™ uses "Pre-Authorized Checking" to ensure that all monthly payments are received on time. Instead of wondering when, or if, you are going to receive payment, you get a pre-authorized check on time each month for every customer on the program. You simply take the pre-authorized checks to your bank and deposit them like normal checks.
To enroll a customer, a simple single-page release form is completed and sent to our processing center.
The eBanking Automated Payments System also includes its own NSF recovery program. If a check or pre-authorized payment is returned for non-sufficient funds, the Automated Payments System will re-submit your payment as a second draft, plus a late fee--saving you the time and money of dealing with checks that have been returned. This service will also save you and your customers the embarrassment of having to handle the NSF item in person. It is a win-win situation for you and your customers.
On the agreed-upon day each month, the pre-authorized checks from your customers will be delivered to your office. Imagine the efficiency gained when you deposit all of your customer's pre-authorized checks into your bank like clockwork each month.
With Pre-Authorized Checking, there is no computer access into your customer's checking account. Your customer's check is simply recreated on the appropriate day each month for deposit into your bank.
This non-threatening approach makes signing up customers on the eBanking Automated Payments System very easy. Because you will be in control of the checks, there is no chance for the bank to make a mistake on your customer's account. The flexibility allows you to even hold a check for a few days if necessary for your customer. There is no cost for software, hardware, phone lines, or any of the typical expenses required for electronic fund transfers with a bank. Considering convenience, cost efficiency and excellent service, the eBanking Automated Payments System is rapidly becoming one of the nation's leading methods for automatic payment processing.
What are the Advantages of eBanking Automated Payments?