Receivables

In order for your funds to work for you, they have to be collected in a timely and efficient manner. Today funds are received in a variety of ways, including cash, checks, credit card transactions, debit card transactions, Automated Clearing House (ACH) transactions and wire transfers. We will help you design a system that optimizes the use of technology to speed your funds collections based on how the majority of your payments are received.

ACH Cash Concentration
Sometimes it is necessary to maintain accounts at other financial institutions. When this occurs, use ACH transactions to collect and concentrate those funds from your other accounts to your account at Associated Bank.

Electronic Data Interchange (EDI)
Many times an ACH payment that comes into your account will come with other addenda information attached to it. With Associated Bank's EDI reporting, the remittance detail will be sent directly to your company, allowing you to post your incoming payments quicker.

Lockbox Services
Associated Bank can receive remittances directly from your customers (using a P.O. Box) and process them immediately to accelerate the collection and availability of funds. We offer lockbox services for wholesale distribution or manufacturers, with low volume/high dollar receivables, as well as for retail businesses, with high volume, low dollar receivables that use remittance documents with MICR or OCR that can be scanned.

Onsite Deposit Manager (Remote Deposit)
Onsite Deposit Manager (ODM) allows businesses to scan checks and transmit images to Associated Bank for posting and clearing. All a business needs to set up ODM is a PC with broadband Internet connection and a check scanner. Checks you receive at your company are scanned at your office to create a digital deposit. This digital image is then transmitted to Associated Bank over an encrypted Internet connection. The bank receives the file with the deposited images and the deposit is made. The business user is responsible for the safekeeping / destruction of the original items per guidelines contained in the ODM Agreement. The convenience of ODM is reduction in deposit prep work, no need to drive to a branch to make a deposit, it improves availability of funds by extending your deposit cut-off times for same-day credit, and allows the exportation of data for use in other systems. For more information call 1-800-270-2707 Mon-Fri 7:00am – 5:00pm or contact your nearest Associated banker or treasury management representative.