Corporate Collection Services
We succeed because we help you succeed.

Collection Services:
In order to allow you to accelerate collection of cash, Commerce offers a number of electronic and paper based services. The key paper collection mechanisms are Lockbox Services – Wholesale and Retail. The features are:

Wholesale Lockbox – This service helps you turn your business receivables into cash quicker than most internal collection and processing systems.

Benefits:

• Minimize collection float by directing payments to a post office box near our processing center. You benefit from more opportunities to invest idle funds, or by reducing debt by reducing the time it takes funds to be collected
• Lockbox deposit information is available by fax or through our electronic balance and transaction reporting system. Images are available by email or CD Rom.
• Detailed receivable information is available by fax or through our electronic balance and transaction reporting system. Images are available by email or CD Rom.

Retail Lockbox – This service helps you turn your consumer receivables into cash, and assists in the updating of your accounts receivable records.

Benefits:

• Minimizes collection float by directing payments to a post office box near our processing center. You benefit from more opportunities to invest idle funds, or by reducing debt by reducing the time it takes for funds to be collected.
• Lockbox deposit information is available in a customized electronic format for direct posting to accounting and treasury management systems, or available by fax, or through our electronic balance and transaction reporting systems.
• Detailed receivable information is available in a customized electronic format for direct posting to accounts receivable systems, or available by fax, or through our electronic balance and transaction reporting system.
• Lowers labor, training, and processing costs associated with internal processing of these low-dollar high-volume items.
• Uses state-of-the-art OCR recognition and imaging technology to maximize processing throughout and streamline document research.

ACH origination service facilitates collection by allowing you to initiate ACH debits thereby charging customers for recurring services (utility bills, health club dues, and insurance premiums).

Benefits:

• Improves cash flow forecasting by increasing cash inflows
• Reduced costs compared to check deposits or wire transfers
• Automates receiving payments
• Can be initialized by Treasury Plus+

Call us at (508) 791-9674 or Email us.