A Service to Help Schools Manage Paper Checks

If you receive paper checks in the mail or through a lockbox, we will show you how to quickly scan and submit them via our secure system for fast clearance and easy management. Electronic payment processing will save you trips to the bank, high bank fees on returns, and all the other hassles of paper checks.

Benefits

Improve cash management and reduce collection float
The key advantage is to reduce the timeframe for clearing paper checks through the Federal Reserve. ACH transactions typically deposit cash in your account within 48 hours, while paper checks often take three to five business days. You will increase your cash availability by utilizing lockbox truncation, and you can eliminate your daily trip to the bank.

Reduce processing costs and efforts
Once you capture a check as an ACH transaction, all the effort is done. You'll have no more daily trips to the bank, no more manual tallying of paper checks, and no risk of losing a check.

Access transaction reports anytime via the internet
Enhance your ability to account for transactions, reconcile cash, and prepare management reports by having direct access to all of your transaction information 24 hours a day.

Expedite management of returned checks
When a paper check bounces, you may not be notified for 2-4 weeks, or longer. When an ACH transaction is returned, you will be notified in 1-4 days, and the quicker notification time will give you a better chance at recovering your funds. You can resubmit an ACH transaction with minimal effort, and target the day the transaction will hit the checkwriter's account with precision, giving you the best chance to collect your funds consistently and with less effort.