“Pre-authorized checking improves cash flow by eliminating the time lag between billing and payment, and saves EFT fees and invoice costs. It also spares clients the hassle of writing and mailing checks.” — Business Week Enterprise/June 22, 1998
“The Check’s in the mail !”
“Your invoice must have gotten lost in the move.”
“Did you send me a bill this month?”
“Can’t you draft this from my checking account?”
“Sorry, I forgot to mail my payment.”
“Let me look at my checkbook, and I’ll call you right back!”
“I thought it was due the 15th!”
“I’ve been out of town for a couple of weeks.”
The reasons for untimely payments could go on and on. Paper Drafting can help eliminate many of your collection problems before they even occur. Ask your representative how the Paper Drafting can help improve your cash flow.
Even with the best intentions, some of your customers will have difficulty making every monthly payment to your office on time. You can continue spending a small fortune on sophisticated billing and collection systems, or you can switch over to one of the fastest growing methods for receiving monthly payments from your customers – Paper Drafting.
Paper Drafting uses “Pre-Authorized Checking” to insure that all monthly payments are received on time for each customer signed up on the service. Instead of wondering when, or if your customers are going to send in their payments, you receive a pre-authorized check on time each month for every customer on the program. You simply take the pre-authorized checks to your bank and deposit them like normal checks.
To sign a customer up, a single page release form, which includes the elements similar to those shown below, is completed and delivered to our processing center. (We will customize the form and format to conform to both your business Logo and format and required standards.)
This document is used to certify that (Your Company Name)
has the right to use Pre-Authorized Checks as a method of receiving regular
monthly payments of $_____ on the ___ day of each month
beginning on ___ ______ , 20__, and continuing
through ___ ______ , 20__, OR until otherwise terminated
The pre-authorized checks will be drawn on the account shown below:
Bank Routing Number: _________ Checking Account #: ______
Signature: _____________ Date: _________
On the agreed-upon day each month, the pre-authorized checks from your customers will be delivered to your office. Imagine the efficiency gained when you deposit all of your customers’ pre-authorized checks into your bank like clockwork each month. With pre-authorized checking, there is no computer access into your customer’s checking account. Your customer’s check is simply recreated on the appropriate day each month for deposit into your bank.
This non-threatening approach makes signing up customers for Paper Drafting very easy. Because you will be in control of the checks, there is no chance for the bank to make a mistake on your customer’s account. The flexibility allows you to even hold a check for a few days if necessary for your customer. There is no cost for software, hardware, phone lines, or any of the typical expenses required for electronic fund transfers with a bank. Considering convenience, cost efficiency and excellent service, Paper Drafting is one of the nation’s leading methods for automatic payment processing.