ACH Receivables Truncation
(ARC)
Checks Received in the Mail
With our accounts receivable check conversion program, checks you have received in the mail for your receivables collections can be
converted to electronic items and collected via the ACH assuring you of First
In-First Out treatment, as well as the cost benefits.
ACH items received are normally processed in the early morning hours before
banks are even open, and before check processing, so available funds are
committed to electronic transactions before the paper items.
Converting your paper checks with automated payment services can dramatically
reduce your labor costs and automate your check processing utilizing today's
scanning technologies.
High volume check processing should not have to be a labor intensive aspect
of your business. Save time with an accounts receivable check conversion
program.
Accounts Receivable Check Conversion (ARC)
Streamline your accounts receivable collections by converting paper checks
into ACH transactions with ACH software. If you receive consumer checks through
a lockbox, through the mail or at a drop box location, the accounts receivable
check conversion (ARC) solution can give you quicker access to your cash, reduce
your processing fees and eliminate many of the risks associated with paper check
processing.
Get
paid faster with Accounts Receivable Check Conversion
Electronic Checks are processed faster than paper checks, so funds are
settled into your account within 3-5 days. In addition, banks give priority to
Electronic Checks over paper checks. An eCheck would be the first item debited
from your customer's bank account on a given day.
Accounts receivable check conversion provides other benefits as well. Deposits are automatic and
electronic, so there is no need to manually fill out checks received on your
daily deposit slips. And since an electronic image of each scanned check is
archived, the actual paper checks can be destroyed within two weeks. This
effectively reduces the risk of theft or tampering.
Another advantage of Check conversion is you have an additional opportunity
to recover funds on a returned check.
In the event that an electronic check is returned due to non-sufficient funds
(NSF), the system automatically pursues collection by electronically
re-presenting it to your customer's bank for payment. Electronic checks can be
re-presented up to two additional times, as opposed to just once with a paper
check.
Currently, merchants recover approximately 65% of their NSF checks through
automatic re-presentment. And collection is carried out quietly
behind-the-scenes, which lets you and your customers avoid embarrassing and
uncomfortable telephone calls.
It doesn't matter if you are a mid-sized merchant or a high-volume remittance
processor. Our system can accommodate the requirements of any organization, and
our solution is easily scaled to meet your growing needs.
Accounts Receivable Conversion at a Glance
- Lower check collection costs
- Faster processing times-funds
usually settle in 3-5 days
- Reduced risk through electronic
processing and storage
- Quicker notice of returned checks; two days for ACH returns vs. 8 days for paper checks
- Improved NSF check recovery through automatic re-presentment
- Real-time consolidated reporting available 24x7
- Easy integration into accounting and billing systems
- Convenient per-transaction billing-you pay only for checks that we process
