Cash Concentration
INTRUST Bank's cash concentration service is an easy and efficient way to transfer
funds from multiple depository accounts and consolidate them to a central INTRUST
business account. By pooling these deposits, you can maximize the use of excess
balances in various bank accounts to invest or reduce debt. INTRUST offers a Web-based
program to initiate these one-time or repetitive transfers.
ACH Debits
Preauthorized Automatic Clearing House (ACH) debits are ideal for businesses needing
to collect payments from customers on a regular basis. Whether you collect membership
dues, utilities, insurance payments, etc, ACH debits provide a tangible benefit
for your business and customers. Electronic debits speed up your payment collections
and eliminate costly invoice preparation and mailing, while providing predictability
in your collection process.
Check Conversion
- Point of Purchase (POP). At a retailer's point of purchase, a check is determined
to be eligible for conversion, the check is scanned to pick up the account and bank
routing numbers, the check is returned to the payer, and a receipt is signed authorizing
the ACH debit.
- Accounts Receivable Conversion (ARC). Checks received at a lockbox or drop
box are determined to be eligible for conversion, scanned to pick up the account
and bank routing numbers, and then destroyed. Notice provided on the billing statement
constitutes authorization for the ACH debit.
- Internet Initiated Debits (WEB). ACH debits are authorized over the Internet.
- Telephone Initiated Debits (TEL). ACH debits are authorized over the phone.
- Back Office Conversion (BOC). Similar to POP, both a notice at the point
of purchase and a receipt containing notice language authorize the ACH debit. However,
in this case the retailer keeps the check, performing all scanning and eligibility
verification in their back office.
Is it Check 21, check conversion or both?
Check Representment/RCK
The collection of checks written that are returned because of insufficient funds
can be costly and time consuming. INTRUST offers solutions designed to help you
re-present NSF checks electronically, commonly referred to as RCK.