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Streamlines the reconcilement process. |
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Eliminates critical delivery of checks since funds are automatically deposited. |
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Eliminates special checks for employees away from work or on vacation. Minimizes storage and security of check stock. |
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Reduces employee time lost due to personal banking business on payday. Additional employee benefit for little or no cost. |
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Funds collected are available on a scheduled date such as the billing due date. |
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Check handling and manual payment processing are eliminated. |
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Costs associated with printing and mailing monthly bills may be eliminated. Item processing costs are reduced. |
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Delinquencies of receivables are significantly reduced. |
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Eliminates erroneous checks (i.e., no signature or wrong amount). Reduces the possibility of insufficient funds. |
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Eliminates costs associated with billing and second notices. |
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Allows businesses to offer additional customer payment service. |
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Funds are collected on predetermined dates |
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Cash flow forecasting and funds management are improved. Provides next-day funds availability from outlying locations. Provides the conveniences of automated transactions. Reduces the need for expensive wire transfers. |
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Improves cash flow forecasting |
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Assures payment discounts for predetermined payment dates. Reduces internal processing costs. Reduce bank service charges |
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Improve vendor relationships as a result of more timely payments |
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Improved collection rate on returned checks. Lower costs. |
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Faster notice of returned re-presented check entries via the ACH. Ability to transmit entries on specified dates. |
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Faster collection of funds, Lower costs. |
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Faster notification of returned entries. |
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