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BACK OFFICE CONVERSION (BOC)

SOLUTION From Retailers to Billers, businesses are in need of a solution to efficiently manage and process paper check payments.  Leveraging our electronic check payment & deposit web-based software system, with our image capture devices, allows businesses to convert paper checks into electronic transactions at the end of the day in the back office, better known as Back Office Conversion (BOC). The new rules mean that EFC business customers of every size and type can successfully and affordably share in the benefits of the paper-to-electronic evolution: cost savings in processing, faster checkout lines, quicker access to funds, a single channel for all deposits, improved collection and decreased returns, fewer bank relationships, and comprehensive reporting. Among customers most likely to benefit from the new BOC rules are retailers, municipalities, educational institutions, and financial services companies. It's Simple.  BOC is designed to accept checks at the point-of-sale, or at manned bill payment locations, providing you with an easy and convenient payment acceptance for your business.  You can continue to accept your customer's paper checks, but now you can electronically process and deposit them at the end of the day in the back office.  Retailers are required to have a notice at the point-of-sale notifying customers of the companies check processing policy and add a notice to the sales receipt or provide a tear-off that the consumers check is subject for conversion.  This new procedure eliminates desktop scanning equipment and signatures for conversion at the point-of-sale.  In all, speeding up the check process and personnel training.  BOC requires businesses or third-party processors to shred or destroy paper checks converted in the back office.  No required timeline for destruction.  Everything is done in your business environment - no bank visits or deposit slips.  All you need is internet access and one of our desktop scanners.  Run the checks through a scanner and view each paper check as it's converted into an electronic image and then into an electronic deposit.  Our technology seamlessly captures and populates accurate check images and MICR data information into the data fields, alleviating manual data entry work! Key Features Easy-to-use solution, requiring only a desktop check scanner and internet access. System automatically distinguishes and converts consumer items from non-consumer items. 24/7 access to retrieve check image and authorization via our secure website. Real-time verification database (optional) reduces risk of accepting bad checks and collection costs. Upload files into your in-house accounts receivable system. Benefits for YOU Eliminates scanning devices at each cash register. Streamline your operations and clear dollars faster. Process all types of checks at the end of the day in the back office. In the case of large volume users, multiple batches can be created and transmitted throughout the day. Speed up the check out process by eliminating check conversion at the register. Everything is done in your business environment, no bank visits or deposit slips. Post payments directly to your customer's accounts freeing up back-office personnel for other jobs. Every check is now available on your office computer screen for better customer relations service. Never have lost or stolen checks. Never have to photocopy checks again. See NSF checks appear in days, not weeks. If you have multiple offices you can now centralize your deposits from many banks to one bank of your choice, all electronically. Reduces bank minimums and sweeping fees. Reduces employee errors and fraud. Reduces bank deposit charges. Reduces transportation expenses - no more bank runs, no more couriers, or armored cars. Here's How BOC Works The required notice, checks subject for conversion, is posted at the point-of-sale.  Checks are retained by the Retailer, not handed back to the consumer. The consumer receives a part of the paper receipt, explaining how the consumer check will be processed. At the end of the day, all checks are scanned in the back office.  Check images and data are processed via our secure, web hosted software system and transmitted through the ACH. Our system automatically distinguishes and converts Consumer items, processed as ACH items, with Non-consumer items including corporate checks and payroll checks into Check 21 IRDs. The funds are processed through the ACH, electronically debited from the customers account and available in your bank account within 24 to 48 hours. Sample Customer Notifications Posted and Provided to Customer at Point-of - Sale “When you provide a check as payment, you authorize us either to use the information from your check to make a one-time electronic funds transfer from your account or to process the account as a check transaction.” For inquiries, please call:   (Retailer phone number here) In addition to the above, until January 1, 2010.  Posted ONLY does not need to be provided: “When we use this information from your check to make an electronic funds transfer, funds may be withdrawn from your account as soon as the same day you make your payment, and you will not receive your check back from your financial institution.   Desktop Check Scanners Back Office Conversion allows easy integration with our complete line of scanners, delivering accurate and timely captured check images ad data. High Volume Digital Check TS - 350/400 Accepts 100 checks at a time. Processes 60 - 80 checks per minute, 3,000 per day. Images both sides of checks in one pass. Mid Volume Digital Check TS230-65/100 Accepts 25 checks at a time. Processes 65 checks per minute, + or - 500 per day. Images both sides of checks in one pass.     Low Volume Magtek Imager  Accepts 1 check at a time. Processes 30 checks per day. Images both sides of checks in one pass.     Coming Soon... Excella STX Panini My Vision Line Canon CR-180 © 2007 - EFC All Rights Reserved Online Services Provided By: Sierra Nevada Design