Depositor Services
Investment/Borrowing Services
Collection Services
Disbursement Services
Account Management Services
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Collection Services
Lockbox Services
Lockbox Service is an arrangement between your company, the post office and our bank. Your company's customer remittances are mailed directly to a designated post office box. We collect the remittances and handle the processing according to your specifications. You choose what types of information you'll need, and we will provide you with a daily report. Reporting options, from simple paper reports to data transmissions uploads, are available. Lockbox service is designed to reduce your mail and processing time and to accelerate funds availability.
Remittance Processing
Remittance Processing is very similar to Lockbox Service Processing. Like Lockbox, FirstMerit
will pickup and process you customers' remittances and provide you with a daily electronic report
of remittance information such as dollar amounts and a variety of other data important to you. The remittances, with an OCR scan line, are read. The OCR data line, read from the remittances, is captured and electronically transmitted to you for automatic uploading into your receivables system. Remittance Processing reduces your mail and processing time, increases the availability of funds and virtually eliminates time spent updating accounts receivables.
e-Deposit
Remote Deposit Capture allows you a new convenience - making your check deposits without driving to your branch office. Check data and images are captured on your premises, using an office PC and a low cost image scanner. The deposit is transmitted to FirstMerit via a secure internet connection. Rather than taking time out of the workday to drive to the branch to make a deposit, you can now send the deposit electronically up to 7:00pm.
Check images and data are captured, inspected, corrected and balanced at your
location using industry-leading technology and items and data are transmitted to the
Remote Deposit Capture central site for processing. You will have the ability to view
the deposited images on your PC for two years.
Deposit Reconciliation
The Deposit Reconciliation service enables you to have maximum utilization of your cash by
tracking multiple deposits from various business locations or associated accounts into a single checking account. Special serial numbered deposit slips are used to identify each depositing
location. Detailed reports are provided to assist you in reconciling the deposits of each location
to the deposits on your checking account statement.
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