Automated Clearing House (ACH) Debit Origination/Cash Concentration
With Compass Bank's ACH Debit Origination services, you can completely automate your collection process, making it quick and easy. Once your customers agree to have their recurring payments debited from their accounts, you simply generate an electronic file and transmit it to Compass for processing. Collected funds are then deposited into your Compass account. With Cash Concentration services, you can electronically transfer funds between accounts, even if they are with different financial institutions.
Compass' ACH Debit Origination guarantees accurate payments from your customers and enhances your credit management process. It also ensures timely receipt of those payments, so you can improve your ability to forecast cash flow. Cash Concentration allows you to consolidate funds across multiple banks to maximize investment opportunities or minimize interest charges associated with a loan.
ACH eliminates the administrative time and expense normally associated with processing paper-based receivables, manual transfers or wire transfers.
ACH services can speed the collection process and simplify your accounts receivable management. There's no need to mail invoices or wait for checks to be returned by mail. You will also have the ability to resolve account disputes before the payment date.
Subject to credit approval.