Receive recurring payments quickly and securely through ACH Origination. Schedule recurring or one-time electronic payments directly from your customers’, members’ or tenants’ accounts to expedite the deposit to your business account. You’ll speed up collections while reducing returned items, posting errors and processing costs.
When checks are returned, continued collection efforts can be time-consuming and sometimes unsuccessful for your business. Our Check Recovery service3—a free feature of your business checking account—can relieve the burden and help you increase your overall collection rate.
With Check Recovery, returned checks are sent to checXchangeTM,3 (a product from our vendor Money Transfer Systems, Inc.), where eligible checks4 are converted for electronic re-presentment. All checks collected successfully through checXchangeTM are reimbursed to your company for 100% of the face value, with collected funds deposited to your account on a weekly basis. You'll have 24/7 access to item images and tracking information, with re-presentment timed to improve the odds of success around the 1st and 15th of the month. If further efforts are needed, we also offer a secondary collection service.2
If your business deals with large volumes of cash, Remote Vault Deposit offers a safe and secure means of transporting funds to your local Synovus bank. To start, we’ll connect you with a third-party vendor who will install a physical vault at your business. The vault will automatically count any cash and coin deposits, and your account will show a provisional credit. An armored guard will then pick up your deposits, and deliver them to our bank for a final reconciliation
Our Lockbox services can help you speed up collections, increasing the availability of funds, reducing internal costs and automating the posting of receivables. Your customers send their payments to a dedicated P.O. box, and we take over from there.
If you have a high volume of customers sending in payments, Retail Lockbox can capture the remittance data electronically, generate a payment data file and transmit the data for automatic postings. If you’re collecting fewer or more sporadic payments, our Wholesale Lockbox service could be just what you need to process and deposit the payments in your account quickly. In addition, you can take advantage of our Lockbox Image Archive, an online service with robust capabilities to view, search, print, and download check images and remittance information.
It’s more than just “credit or debit?” today. Your customers have more payment options available than ever before. Whether you have one store or a growing franchise, our Merchant Services team can help you find the right point-of-sale system for your business, so you're always ready to make the sale. You’ll receive face-to-face training and equipment setup, clear and concise statements, and customized pricing, all arranged by a local sales representative who knows your community inside and out.