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?
 
    1. Merchant receives check for payment of goods or sevices via mail or delivery
    2. Check is scanned by check reader
    3. Check data is transferred from the reader into our Windows 95 PC software
    4. Check data is batched and transmitted to the EFT NETWORK, Inc. processing center for presentment through the ACH
    5. 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?
 
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