Collection Services

Automatic Clearinghouse (ACH) Origination

Consolidate funds into First Business Bank from other financial institutions by setting up scheduled transfers
Set up transfers through ACH for specific dates, days, or collected balance criteria

Make deposits electronically from your place of business by scanning checks
Checks are retained and secured under your dual control
Scanner is small and easy to install
Web-based application requires no additional software
Information can be downloaded into your Accounts Receivable software package
Extends deadline for submitting deposits
Convenient because it eliminates trips to the bank, deadlines for courier, and delays in mailing deposits
Eliminates the need to hold deposits
Consolidate bank accounts to eliminate maintenance and reconciliation expenses

Convert receivables into available cash more quickly and efficiently
Payments mailed directly to central lockbox location where they are deposited and credited on the same day received
Streamline collections by eliminating the need to prepare deposits and take them to the bank
Efficient processing accelerates the availability of funds
Increase in available cash can mean a reduction in interest expense on a loan, an investment opportunity, or a reduction in bank fees
Time saved frees your staff for other responsibilities within the business
Receivables are processed in a secure, controlled environment