Cash Management - Receivables

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  3. Cash Management - Receivables

Cash Management

Receivables

Choose from our wide range of collection services that can help improve your cash flow.

 

ELECTRONIC FUNDS TRANSFER – DEBITS

Reduce the time and cost involved in collecting and processing your recurring receivables by collecting payments directly from your customer's accounts.

 

How it can work for your business:
  • Eliminates the time and cost of mailing and preparing invoices
  • Eliminates the collecting and depositing of received cheques
  • Removes cash flow uncertainty
  • Reduces clerical work and errors

 

ELECTRONIC FUNDS TRANSFER– CREDITS

Save time and money in making payments such as payroll, annuities, pension plan payments, dividends and investment interest by disbursing payments to your receivers’ accounts on the selected due date at any financial institution in U.S.

 

How it can work for your business:
  • Eliminates the cost associated with cheque production and reconciliation
  • Reduces postage and/or distribution expenses
  • Decreases staff time spent on administration
  • Enhances cash flow forecasting
  • Provides quicker access for your employees to their funds

 

PAYMENT RECEIVER SERVICE

Consolidate both your payments and remittance information daily and receive it in the format of your choice without having to invest in expensive Electronic Data Interchange (EDI) technology

 

How it can work for your business:
  • U.S. Dollar payments only
  • Reduces costs for tracking items as information delivered will be in a consistent format
  • Enables greater efficiencies with easy-to-read and interpretable reports

 

REMOTE DEPOSIT CAPTURE

Remote Deposit Capture provides a convenient and secure method to deposit eligible items right from your office using a computer and compatible scanner. This ensures you no longer have to worry about getting to the bank by closing time to make your deposits.

 

How it can work for your business:
  • Save time with fewer trips to the bank
  • Deposit capability from multiple business locations where you have a computer and compatible scanner set up
  • The ability to deposit eligible USD cheques to your IFA accounts
  • Same-day deposits for eligible cheque images received by TD by 7:30 pm EST on a business day

 

RETAIL LOCKBOX

This service can accelerate your company’s receivables collection and accounts receivable posting process for high volume mailed payments. Your customers’ payments are directed to a specific IFA post office box. IFA collects and processes the payments daily and deposits the funds into your IFA business account the same day.

 

How it can work for your business:
  • Payment information is provided to you through a variety of options to suit your needs.
  • Consolidated and comprehensive reporting from multiple lockbox sites
  • Processing of post-dated payments up to 365 days

 

IFA MERCHANT SOLUTIONS

We offer expert advice and payment processing solutions that will keep pace with your business growth. Our Relationship Managers will take the time to understand your business and provide you with the right solution.

 

  • Trusted advice and expertise
  • A straightforward sign-up process with transparent costs and no surprises

 

How it can work for your business:
  • Get quick access to your transaction funds on the next business day, when set up with an operating account
  • Real-time authorized transaction information with Online Reporting