Collecting money has never been easier with Altabank’s receivables solutions for business. Electronic receipt, remote deposit and an array of customer payment methods allow for faster processing and reduced administrative overhead.
With ACH payments, your business can electronically receive funds from any other financial institution, giving you the ability to quickly convert payments into cash assets. These ACH transactions allow for faster processing and lower costs, and are more secure than paper payments. ACH transactions help you accelerate collection and processing, improve customer account reconciliation, decrease NSF/returned item fees and optimize cash flow.
ExpressDeposit™ / RDC
ExpressDeposit™ is Altabank’s remote deposit capture service that brings the bank to you. Using a small desktop scanner, you can deposit checks from the convenience of your office or other remote location 24/7.* Our secure, Web-based check-processing system allows you to collect funds faster, store electronic images of checks, and minimize deposit preparation time. Qualified business users† also love our Mobile ExpressDeposit™ service, which allows for check deposit through our mobile banking app right into their business accounts with the simple snap of a picture.
Never turn away a sale again with merchant services from Altabank. We make it simple for you to accept and process customer credit and debit payments made in person, online or on the go. Your customers will enjoy the convenience of a simple swipe, while your business will benefit from faster payment processing and security.
Are your A/R people spending too much time opening and processing customer check payments each month? Simplify your collections process, reduce overhead and increase productivity with Altabank’s lockbox service. This service allows your customers to send payments to a special post office box where we then retrieve them multiple times per day, process them and deposit the funds directly into your company’s bank account. The processed payments are then posted to a secure website where you can choose to apply the payments manually or automatically to your A/R system, resulting in funds being available faster while reducing the risk of employee and mail fraud.
Loomis Cash Management Services
Cut costs, increase efficiency and improve your bottom line with SafePoint® by Loomis, a cash management solution that uses cutting-edge technology to close the loop in the cash-handling process. Once your cash is deposited, counted, logged and secured in the SafePoint Titan® smart safe, the deposit shows up in your account in the form of provisional credit before the Loomis secured armored transport even collects it. With Loomis Direct, an online account management solution, you can track and manage every step of the process safely and securely.
*Deposit cut off time is 6:00 p.m. Mountain Time, Monday-Friday (excluding holidays). Deposits submitted after 6:00 p.m. will be processed on the next business day by 11:00 a.m. Deposits are subject to verification and not available for immediate withdrawal. Deposit limits and other restrictions apply.
†To be eligible for Mobile ExpressDeposit, you must be an Altabank online banking customer with direct ownership in an Altabank checking or savings account, your account must have been active for at least 60 days, no overdrafts in the last six months, and no more than one charge back in the last six months. For business accounts, the first 10 deposits in the calendar month are free of charge. There is a $0.50 service fee on each additional deposit up to 60 deposits and a $1.00 service charge fee per deposit on each deposit over 60 in the calendar month.
SafePoint and SafePoint Titan are registered trademarks of Loomis.