ACH transactions present the most efficient way to collect funds and conserve cash. While there are multiple applications, two types of ACH transactions deliver maximum effectiveness for incoming funds:

• Pre-Authorized Debits. Instead of waiting for your customers or clients to pay, you establish a pre-authorized debit of their accounts.
• Cash Concentration. If your business has accounts at several banks, you can electronically debit funds from those accounts and concentrate them at Superior Bank.

The Advantages of Pre-authorized Debits

In a nutshell, Pre-Authorized Debits allow you to electronically debit your customers’ payments, dues and other recurring payments and then credit the payments to your account. Pre-authorized Debits bring exceptional benefits to your company:

• Expedites the collection of customers’ payments
• Ensures timely receipt of payments
• Enhances your ability to predict cash flow
• Reduces delinquent payments, administrative and processing costs
• Provides customers with the convenience of not having to write and mail checks

Get More Value from Your Cash

Instead of having your cash sit at multiple banks doing nothing, Cash Concentration transfers the money from other banks’ accounts to one Superior Bank account. As a result, you will be able to get more value out of your money, including overnight investment, debt payment and payables management.

It’s time to save your business time and money

Contact your Superior Banker and learn more about bringing money into your business, fast.