E-Credits Overview
E-Credits are another way for your company to save thousands of dollars each year. Instead of writing and mailing checks for refunds or payments to your customers you can easily send an electronic payment from your bank account. This eliminates the costly paper procedure of writing, posting and sending a check by mail.
Benefits
- Decreases costs
- Increases profitabililty by reducing labor costs
- Simplifies back office procedures
With electronic pay, the overall costs of issuing a credit is substantially decreased by lowering significantly the administrative costs associated with writing a paper check.
How Does It Work?
This product creates a payment by pushing a check from your account and depositing it electronically into the account of your customers or vendors. Integration of e-check electronic pay for your accounts payable department is simplified through our program and the costs savings for your company are significant. For example, a manual check costs companies between $1.25 and $1.50 for each remittance. This cost includes $.39 cents to mail a check, plus the cost of the envelope and paper check, and the time it takes to write, sign and mail the document (all administrative costs).
Why Does It Work?
By utilizing this service you have the added benefit of paying clients, vendors, employees and all others that receive payments from your company.