ELECTRONIC
BANKING SYSTEMS
EFT ACH PROCESSING
Lockbox
Check Truncation
IT'S
LIKE HAVING A BANK BRANCH IN YOUR OFFICE!!!
Lockbox
Check Truncation changes a check received in the mail into an electronic
check. This system is designed for any merchant who receives large
quantities of checks in the mail. The check becomes an Electronic
Funds Transfer (EFT) and is processed through the Automated Clearing
House.
The ACH is the
federally regulate electronic payment network used by 95% of the country's
financial institutions.
HOW
DOES IT WORK?
-
Merchant
receives check for payment of goods or sevices via mail or delivery
-
Check
is scanned by check reader
-
Check
data is transferred from the reader into our Windows 95 PC software
-
Check
data is batched and transmitted to the EFT NETWORK, Inc. processing center
for presentment through the ACH
-
Payment
is made to the merchant in 24 hours - same as POS truncation
THE
PROCESS IS FAST AND EASY TO PERFORM - NO MORE BANK RUNS!!!!
NO
MORE LOST OR STOLEN CHECKS!!!
WHAT
ARE THE BENEFITS?
-
The ACH
will transfer the funds electronically
-
The funds
will be transferred into the merchant account in 24-36 hours.
-
Neither
the merchant nor the bank has to process a single paper check.
-
Low transaction
rate
-
Low NSF
fee
-
No deposit
slips to fill out
-
No lost
or stolen checks to worry about
-
No bank
runs to make
-
No bank
deposit fees
-
NEVER
an NSF or Processing fee from the bank to the merchant
-
NSF checks
will show up in several days as opposed to weeks - you can redeposit immediately
and keep all fees
-
Reduced
handling costs
THIS
PROGRAM IS ALL ABOUT SPEED AND SAVING MONEY - YOU GET YOUR MONEY A LOT
FASTER AND IMPROVE YOUR FLOAT TIME !!!
LOW, LOW, LOW NSF FEES !!!
WHAT
ABOUT NSF CHECKS?
This is
so important it deserves more space:
NSF
check information will be reported to the merchant on a daily basis. There
will be no bank fees on NSFs since they are electronically presented. We
can automatically represent the NSF checks and collect both the face and
the fee - all of which is turned over to the merchant.
And the NSF fee is very low
compared to bank fees.
Contact EBS
For More Information:
CALL @ 732
888-3898
FAX @ 732
888-9084
Email:
EBS SALES