Exceptional Differences
Why are we so different?
(
It’s in the behind the scenes details.)
Dial-up
Most banks or processors allow you to submit
transactions via a dedicated secure dial-up
(modem) connection. This obviates the need
to encrypt data and processor implementation
is fairly
straightforward. Unfortunately
communications can be terribly slow,
especially for higher transaction
volume, (not to mention busy signals if the
banks modems are tied up).
High
Speed
/ Internet
Most banks and processors don't offer this
technology either because their systems were
designed before the Internet revolution or
their transaction volume doesn’t warrant the
infrastructure investment. Our processor
realizes that technological advances allow
us to offer
our clients and partners the very best in
transaction processing. This is evidenced by
our substantial investment in emerging
technologies. Your business can count on
transactions being processed quickly and
accurately;
whether it is one transaction or one
million.
Data
Encryption
Our processor knows how important that data
security is to your company and to your
customers. Therefore we have gone to great
lengths to ensure secure transaction
processing from start to
finish. Our data centers are all designed to
meet or exceed current legal requirements
and security regulations.
To assure that this level of security is
consistently maintained, we audit security
measures regularly and employ
the latest encryption techniques available.
Returned/Changed
Items
Notification
Almost all banks are still sending out at
least some of their notifications of
returned or
changed items via a mailed report or fax.
Our processor provides electronic
notifications. Theses enable you to
automatically update your database or post
to your
accounting system without the need for
manual entry. In addition to saving you time
and money manually
entering items your company benefits from
the elimination of keypunch errors.
Funding
Notification
As strange as it may seem, most banks and
processors will only notify you of the
transactions that are rejected or returned
unpaid. Our processor also notifies
which items were rejected, but in addition
you will also be notified as to when
items have been paid. This, coupled with
notification of each item that has been
received and is being processed, allows for
complete accounting records for each
transaction submitted for
processing.
Change
Items
Auto-Apply
Notice
A company that uses their bank to transmit
transactions to the Federal Reserve's ACH
Network must often retransmit
information to correct transactions that
contained errors. The company must then
manually update their
database with the corrected account
information. Depending on the number of
transaction being submitted, this
can be a labor-intensive. Our processor
automatically updates its Notice of Change
database with the corrected
information immediately upon receipt. The
company does not have to do any data entry.
The next time a
transaction is submitted with the incorrect
information, our processors automatically
correct it and send it for
settlement.
Auto-Reject
Known
Bad
Accounts
In processing such a large volume of
transactions our processor has been able to
build an extensive
database of bad account numbers and closed
accounts. Therefore when a transaction with
a bad
account is sent to us for processing, we can
immediately reject the transaction rather
than waiting
for it to complete the standard reject
process through the ACH Network which may
take up to 4 days.
Auto-Correct
Savings
or Checking
Many times a customer will supply an account
number but not properly indicate if it's
a savings account or a checking account.
This can cause processing problems because
many financial institutions reject a
transaction if the account type is not
indicated
properly. Our processor solves this problem
by correctly indicating account type as
part of our standard service.
Credit
Union
Conversion
Many credit unions and small banks don't
perform their own ACH processing and
instead turn to larger banks or third party
processors to handle their ACH
processing for them. In order to properly
process these transaction types the
account number and/or the
ABA
numbers must sometimes be changed or
modified. To handle these and other
similar situations our processor employs
powerful programming algorithms to
automatically correct this
information. This technology is updated
regularly and assures you the most accurate
and return free processing
possible.
Bank
Merger
ABA
Correction
With the number of banks merging seemingly
increasing each day, it's critical to
have the most up-to-date information
possible for processing transactions. By
employing our proprietary technologies the
necessary modifications to the ABA number
and/or account number
will be handled automatically to assure you
the most accurate and return free processing
available.
Auto-Reject
Unqualified
Banks
There are still some financial institutions
that do not participate in the ACH network.
We immediately notify you when an
institution cannot process electronic
transactions. This allows your business to
ask for another payment mechanism or Our
processor can convert the electronic
transaction into a paper check that can be
deposited in traditional fashion. Our
processor provides this optional service to
you for no additional
fee.
We believe the combination of our ability to
manage and embrace technological advances
and our unsurpassed
knowledge of transaction processing will
offer your business advantages and
opportunities simply not available
elsewhere. Talk with us and see if you don’t
agree.
