Improve your cash flow

ACH Debit and Credit Origination Service
Use Cole Taylor Reporter to generate ACH transactions for applications such as:

• Automated funding
• Cash concentration
• Direct deposit of payroll
• Pre-authorized debits
• State and Federal tax payments
• Vendor payments

• Greater Cost Efficiency: You can reduce collection efforts and minimize the costs associated with check issuance and reconciliation.
• Improved Payment Control: You can maximize your cash by generating payments to arrive on their due date and eliminate the possibility of loss of early payment discounts due to unforeseen mail delays.
• Improved Internal Control: You can eliminate the security risks associated with check handling.

• Your customers will mail their payments to a specified lockbox mail address. Cole Taylor will pick up your lockbox mail several times each day and then bring it back to our processing facility for sorting.
• Checks will be deposited and cleared quickly.

• Move checks out of the mail and into your account faster so you can spend, invest or pay off debts sooner.
• Access receivables reporting information for better tracking of your cash position, accounts receivable ledger and credit function.
• Take advantage of the Cole Taylor Reporter, our PC-based electronic banking system to receive same-day lockbox deposit totals around the clock.
• Protect against fraud loss: all remittances will be mailed to and processed by Cole Taylor, effectively separating the receivables and payables functions. This gives you a solid audit trail and a guarantee of quality.
• Reduce costs by freeing up your employees to handle other work and by postponing or avoiding hiring additional staff.