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ACCOUNTS
RECEIVABLE CONVERSION
REMOTE
DEPOSIT:
Accounts
Receivable Conversion (ARC) changes a consumer check received in
the mail into an electronic check.
Non-consumer items (money orders, cashier checks, etc.)
are converted into Check 21/IRDs in our processing office and
deposited electronically into the merchant account.
This system is designed for any business that receives large
quantities of checks in the mail.
The check is converted into an Electronic Funds Transfer
(EFT) and is processed through the Automated Clearing House. The
ACH is the federally regulated electronic payment network used
by over 95% of the country's financial institutions.
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PERFECT WAY TO CENTRALIZE BANKING:
| Many
companies find that ARC helps to centralize all of their
locations into one bank account.
It doesn’t matter where a payment center is located –
their checks will be deposited into a designated bank account
anywhere in the country. |
HOW
DOES IT WORK?
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Businesses
receive checks for payment of goods or services via mail or
delivery
Checks are fed through an imager – the imager is connected to
a computer that has a web connection
Check data is confirmed for accuracy and transferred from the
imager into our web based system. Our processing center receives
the check data and processes all consumer check items through
the ACH We convert the non consumer items into Image Replacement
Documents and deposit them The
check writer's account is debited and the business account is
credited in 48 hours. |
THE
SYSTEM IS RELIABLE AND FAST:
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The
system is extremely reliable. Checks
input into the imager and submitted to our processing system are
deposited into your bank account the day after they are debited from the
check writer. Every item in
a batch is deposited at the same time.
Accounting is easy and straightforward.
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THIS
PROGRAM IS ALL ABOUT SPEED AND SAVING MONEY - YOU GET YOUR MONEY A LOT
FASTER AND IMPROVE YOUR FLOAT TIME !!!
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