Managing Receivables

We’re finding more ways to bring the bank branch to you. accessDEPOSIT^® delivers a single, streamlined remote check deposit solution. With accessDEPOSIT, you can capture and transmit digital images of checks right from your place of business.

To help simplify your deposit experience, accessDEPOSIT:

• Provides you the flexibility to deposit check images electronically from an on-site workstation using a certified check scanner
• Extends the banking day. Checks submitted via accessDEPOSIT are accepted until 8 p.m. ET for same-day deposits and next-day funds availability.
• Increases efficiency by eliminating travel time to branches
• Provides the option to include associated payment information with your check deposits
• Allows you to access images and data from anywhere within the web portal archive

When you need to make your deposits on the go, accessDEPOSIT Mobile:

• Allows you to make deposits safely and securely from your mobile device
• Allows you to capture multiple checks in one deposit
• Provides the option to key associated payment information with your check deposits
• Provides the option to capture remittance or invoice images

Exchanging electronic financial data between your internal systems and your bank shouldn’t be a hassle. Or require a significant investment in new technologies.

Our accessXCHANGE^® solution provides a safe, secure and compatible format for transmitting and receiving receivables and payment data to and from the bank, ensuring that information gets to the right place at the right time, without requiring upgrades to your hardware and software systems.

• Interfaces directly with your ERP (enterprise resource planning) treasury workstation, accounting systems or other applications that generate or use transactional data.
• Compatible with SAP^®, Oracle^®, Microsoft Excel^®, Microsoft Dynamics GP^®, QuickBooks^®, Peachtree^® and other programs and applications

For receivables:

• Provides you with information on multiple types of fund receipts and check reports using a single format.
• Ideally suited for customers who use ACH, Lockbox and E-Z Deposit^® receivables solutions.

For payments:

• Enables you to consolidate payment information from a variety of systems and deliver them to the bank in a single file for execution.
• Commonly used by clients who use payment services such as Integrated Payables, accessGLOBAL ACH^®, CheckMint^®, Positive Pay and Account Reconciliation.

Businesses with successful cash flow strategies take advantage of efficient, paperless options to accelerate receivables, improve forecasting and avoid costs associated with check depositing, manual payment posting and postage.

• Bill Pay lets businesses present electronic bills and invoices securely and accept customer payments online and via phone.
• Bill Pay Express allows you to accept payments online. Billing information is not required.

Streamline your billing and receivable processes and replace paper invoicing and manual transactions through electronic bill presentment and payment technologies.

• Reduced billing costs, customer service expenses and invoice disputes
• Multiple payment methods and channels, including credit cards, debits cards, ACH and automated phone payments
• Email notifications, such as due date notices, payment confirmations and credit card expirations
• Bill/invoice presentment in summary electronic format or in detailed PDF format
• Configurable, scalable platform that can be modified to meet your business needs and requirements

Combine with E-Z Deposit^®, electronic check scanning and transmission service or one of our Lockbox options to simplify your receivables processes.

Maintaining separate deposit accounts at different banks across multiple locations is common. Moving cash from these to a central account can be inefficient, expensive and time-consuming. Simplify this process using low-cost ACH transfers with our Cash Concentration service.

Here’s how it works

1. Designated employees in your satellite locations use our phone or Web services to request a transfer of deposits made from their local banks to your core Citizens Commercial Banking account.
2. An ACH transaction transfers the funds.
3. Your central concentration account is credited with the deposit the next business day.
4. Funds can be automatically moved into your sweeps account to maximize yield or pay down outstanding debt.
5. Detailed reports will list which locations have reported and transferred their deposits, or you can view this information online using our accessOPTIMA® application.

Reverse this process using our Cash Disbursement service to electronically transfer cash from your central account to your satellite offices’ local banks. Either way, using ACH instead of wires can significantly reduce transaction fees.

Even as the world moves to electronic payments, many retail stores, restaurants and other cash-intensive businesses still handle large volumes of bills and coins. Citizens is ready to help with its Coin and Currency solution. Coupled with the armored carrier services you contract, our solution removes the burden of having employees carry cash to and from your bank branch.

The Coin and Currency product is designed to give you maximum choice, flexibility and control in making cash deposits and sourcing the coin and currency you need to operate on a day-to-day basis.

• Order currency from our vault using our automated phone system.
• Use your contracted courier to deliver currency orders to your business locations and transport coins, currency and checks to our vault for deposit processing.
• Receive same-day credit for vault deposits made before cut-off time.
• Receive daily credit for smart safe deposits from our partner providers.
• Combine these services with our E-Z Deposit^® electronic check scanning and transmission service to simplify your receivables processes.
• View all deposit activities and adjustment entries with our online accessOPTIMA^® application or receive transaction receipts by email, fax or U.S. mail.

Consolidation of deposits from multiple locations or departments into a single account can create auditing and reporting hassles. Simplify the process with Deposit Reconciliation and reduce the administrative burden on your accounting staff.

The key to this service is its simplicity:

• Each location or department in your company will be provided deposit slips with two specific numeric identifiers.
• The first number will indicate the geographical location and the second can be assigned to an internal location, general ledger, department or any other meaningful accounting criteria.
• Sources of the deposits appearing on statements or deposit reconciliations will be clearly identified.
• You can also review identifier-coded deposit confirmations online using our accessOPTIMA^® application.

Even as the world moves to electronic payments, many customers continue to pay by check. Putting the burden on you and your employees to make sure all this paper is deposited…and nothing goes astray.

• Use a scanner and PC or smartphone to scan checks, money orders, travelers’ checks, invoices, coupons and other paper-based payments and convert them to images.
• Eliminate the need for physical signatures by using optional automated endorsement features.
• Export information on these images to your A/R system.
• Transmit the deposit images to us over the web using our secure encryption technology.
• Checks submitted by 8:00 pm ET receive same-day deposit and next-day funds availability.
• Reporting tracks activity and transactions, provides deposit details and summaries as well as settlement information.
• Images are retained for two years.
• View deposit activity alongside other account activity through our online accessOPTIMA® application.
• Use our online Image Viewer application to view and archive a wide variety of imaged documents such as paid checks and deposited items.

Combine E-Z Deposit with the accessDEPOSIT^® Mobile app and bring the sophistication of desktop capabilities to your smartphone. Deposit checks and other paper-based items directly from your customers' sites with the ability to incorporate such features as:

• Batch scanning.
• Check and invoice scanning including full-page documents.
• Data fields with smartphone capabilities such as a date picker or drop down.
• Integration to the desktop application.

Our state-of-the-art encryption technology protects the confidentiality and integrity of all your online data and financial transactions. And our secure login features and multiple levels of protection help prevent unauthorized access to your accounts, reducing the risk of fraud.

Even in this electronic age, many customers still send checks, money orders and other paper-based remittances, which can create a “clearing bottleneck” when it takes days for them to be endorsed and deposited manually.

Eliminate this internal bottleneck and reduce the potential for theft and fraud with our Lockbox service. Instead of sending checks to you, your customers send them to a designated P.O. box. We collect payments from the United States Post Office and process them quickly – so you can access your funds faster.

• Track customer payments more efficiently.
• View payment images online using our accessOPTIMA® application or receive them through electronic transmissions or CD-ROM.
• Upload payment data daily – including images, invoice numbers, client numbers and discount amounts – automatically into your A/R system.
• Receive accurate, timely and flexible reports on deposits received, including exceptions and manual items flagged for your attention.

Two different Lockbox options are available:

• accessLOCKBOX^® for companies with low to moderate volumes of high-dollar receivables
• Retail Lockbox for businesses that receive a high volume of low-dollar receivables