Mobirise

Home Banking Consolidation

Simplify the processing of Check-Free or Home Banking incoming payments

Your customers are using their bank’s online bill payment system to simplify their lives, and unfortunately make your payment posting life more difficult. Worst of all, more customers are moving to this new payment method each month. Your payment posting staff has a growing problem with incorrectly formatted or just wrong or incomplete account numbers, and even when the information is correct checks without your remittance stub take longer to post and process.

AFTS has the solution to these problems. Our solution streamlines the daily process, resulting in a single consolidated deposit that totals to a posting data file that can update your accounts receivable system. Your staff will no longer need to hand-key any payments. Checks are not delayed or lost in the mail. You receive your funds and your accounts are updated on the same day CheckFree issues the payment information.

Our service starts with our notification to CheckFree that your daily payments should be sent to AFTS, now acting as your agent. We receive your payments electronically each day. We use our customized parsing and database cross-checking systems to validate each payment, and then create a consolidated “A/R” posting file that your staff can directly import into your accounting system. Your money is consolidated into a single deposit that can be sent to you by paper check or ACH credit. Audit reports can be emailed or accessed online documenting the complete process.

Our service requires that your staff send us information about your customers periodically to ensure our database cross-checking system is accurate. Sending this data is easy.

When we discover payments that are not formatted correctly, create a translation in our database to speed-up the identification of future badly formatted payments. Optionally, we can also mail a customized form-letter on your letterhead asking your customer to correct their online bill paying entry to avoid future problems.

- Payments are received electronically, so there is no paper processing involved
- All payments are deposited directly into your bank
- Payment information is uploaded directly into your accounts receivable system
- You have faster access to your funds which improves cash flow
- Better customer service
- Decreases operational costs and accounting overhead



The AFTS Family of Companies

Your Complete Payment
Services Solution

Automatic Funds Transfer Services has been providing cost effective solutions related to data processing, invoicing, statement printing, mailing and payment collection through automated lock-box functions since 1971. We are now a growing group of companies dedicated to helping you with your complete Payments Cycle.

AFTS is Registered with Nationwide Mortgage Licensing System & Registry

NMLS ID #337842