Collection

Streamline accounts receivable, reduce collection costs and improve daily cash flow - all with state-of-the-art data security and integrity. RBC Bank Collection solutions help you efficiently collect payments from your customers.

RBC Bank Collection services include:

ACH for Payment Collection (Direct Debit)*

Simplify the collection of recurring payments from multiple customers by automatically drafting amounts owed from their bank accounts. Electronic collections help cut check and postage costs, improve control over cash flow and reduce time spent handling paper transactions. Electronic collections are ideal for, but not limited to:

• Membership dues
• Mortgage, rental or lease payments
• Utility payments

Electronic Data Interchange (EDI)

Send or receive electronic versions of remittance information as part of ACH transactions using EDI. No more copying, faxing or mailing of invoices, or other business documents. EDI allows you to:

• Improve customer service
• Speed payments and remittances
• Reduce paperwork
• Save time and money
• Reduce the risk of error
• Accelerate the transfer of remittance information

Lockbox Services

Optimize accounts receivable management with RBC Bank Lockbox services. Simply direct payments (addressed to your company) to an assigned post office box, and dedicated RBC Bank staff will collect remittances, open and process payments, and deposit them in your designated account(s). Access deposit information quickly and efficiently with same-day Internet access to images of checks, remittance documents, envelopes, correspondence, multi-media reporting options and more. Lockbox service options include:

• Retail – high volumes of small dollar payments
• Wholesale – moderate volumes of large dollar payments
• Property Management – a retail lockbox with file format and reporting features designed specifically for companies that collect homeowners dues

A/R Advantage Lockbox

This automated, image-based wholesale service can help improve and accelerate the lockbox processing workflow which helps you manage your daily accounts receivable more effectively. Multiple processing sites in the United States are available for you to choose.

A/R Advantage provides same-day Internet access to transactions and images with optional features such as customized batching, selection of deposit cut-off times with web page updates after each cut-off, payment alerts and supplemental data keying and reporting. Additionally, A/R Advantage Lockbox information is available as customized direct data transmission files, Zip file image or spreadsheet-formatted downloads, or CD-ROM to give you the information you need, when you need it.

Remote Deposit*

Manage daily deposit activity efficiently and conveniently. Simply transmit deposits from your office using a desktop scanner and the RBC Bank Web-based application. With Remote Deposit, you can reduce deposit preparation time, transportation costs, and time spent away from the office. Plus, with the extended deposit deadline associated with this service, your working capital funds can be available sooner. Custom reporting options are available as well as export capabilities. View the Remote Deposit Demo.

*Subject to credit approval