Auto Debit Arrangement

BUSINESS BANKING

Auto Debit Arrangement 

Automatic Debit Arrangement Service –allows you to collect your company receivables through the convenience and speed of electronic funds transfers.  PBCOM Business Banking will handle online, real-time debiting of values directly from the accounts of your suppliers or customers.

 

Collection of receivables from pre-enrolled customer accounts can be initiated one-by-one or by batch, which contains one or more transactions.

Features

  • Funds collected are immediately made available for use.  Each transaction is completed online and in real-time.
  • Flexible authorization workflow allowing control over the preparation, verification and authorization of debit instructions
  • Complete transaction and audit logs
  • Secure access through internet-enabled computer via SSL with up to 256-bit encryption capability using Internet Explorer Ver. 11.0

How it works

  • Your customers agree and signs-up to enroll their PBCOM account in the Auto Debit Arrangement service for the purpose of completing payments to you online.
  • PBCOM Business Banking user may create individual or batch debit instructions over the Internet through the user-friendly browser-based data entry screens of the PBCOM Business Banking
  • Using any Internet-ready PC, your company’s authorizers connect to PBCOM Business Banking via the Internet to approve the pending debit instructions.
  • Once properly approved, PBCOM Business Banking automatically effects the debiting of your customer accounts and crediting of your designated collection account.
  • You can view the status of your transactions real-time using PBCOM Business Banking

Benefits

  • Provides an automated alternative to check or cash based collections
  • Releases any resource from collections function and allows utilization of freed up resources to other key tasks
  • Shortened collection turnaround time

 

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