Improve your cash flow

ACH Debit and Credit Origination Service
Use your PC to originate ACH transactions for applications such as:

• Automated funding
  
  
• Cash concentration
  
  
• Direct deposit of payroll
  
  
• Pre-authorized debits
  
  
• State and Federal tax payments
  
  
• Vendor payments

• Improved Funds Availability: In most cases, payment in available balances is received within one to two days after the transaction is initiated. This makes collecting pre-authorized debits much faster and more reliable.
  
  
• Greater Cost Efficiency: You can reduce collection efforts and minimize the costs associated with check issuance and reconciliation.
  
  
• Improved Payment Control: You can maximize your cash by generating payments to arrive on their due date and eliminate the possibility of loss of early payment discounts due to unforeseen mail delays.
  
  
• Improved Internal Control: You can eliminate the security risks associated with check handling.
  
  
• Ease of Use: You have access to user-friendly software for simplified data entry. Helpful menus will quickly guide you through data input and review.

• Your customers will mail their payments to a specified lockbox mail address. ColeTaylor will pick up your lockbox mail several times each day and then bring it back to our processing facility for sorting.
  
  
• Checks will be deposited, quickly cleared and assigned specific funds availability. Wholesale lockbox services are suitable for lower transaction volume/higher dollar payment organizations and retail lockbox services are generally for companies with higher transaction volume/lower dollar payments.

• Move checks out of the mail and into your account faster so you can spend, invest or pay off debts sooner.
  
  
• Access receivables reporting information for better tracking of your cash position, accounts receivable ledger and credit function.
  
  
• Take advantage of the ColeTaylor Reporter, our PC-based electronic banking system to receive same-day lockbox deposit totals around the clock.
  
  
• Protect against fraud loss: all remittances will be mailed to and processed by ColeTaylor, effectively separating the receivables and payables functions. This gives you a solid audit trail and a guarantee of quality.
  
  
• Reduce costs by freeing up your employees to handle other work and by postponing or avoiding hiring additional staff.
  
  
• Take advantage of our Check View Service, an innovative lockbox technology available from ColeTaylor.

Contact a banker now for more information. Or call us at 847-653-7974

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