Pre-Authorized Checking

Doctors aren't the only ones who can benefit from pre-authorized checking.

The fact is, there are dozens of different kinds of businesses who can take advantage of this technology.

Here are some statistics common to every business to help explain why there is such a huge demand for Pre-Authorized Checking for all types of businesses. You may have never thought about it, but it is very expensive and time-consuming for a company to send out invoices to customers. In fact, an independent study by Network 1 Financial Corporation found the average cost for a typical business to issue an invoice is $4.17.

That figure, $4.17 per invoice, takes into account everything from the printing costs for the forms and envelopes, to postage, accounting personnel, follow-up labor, equipment costs... and even includes the cost of outstanding money.

 

The bottom line is simple

 

It costs a business a lot of money just to collect the money that's owed them. And it's not just the over-due invoices that a company has to fight to collect. It is expensive to send out and collect normal invoices during the course of your normal business day.

Think about the process an invoice typically has to go through before you can actually get your customer's money into the bank.

  • First your business has to issue the invoice,  and, as mentioned earlier, you have to spend an average of $4.17 to process and send it.
  • Then you have to wait for the customers to send their payments back in. This could take days if you are lucky; but more likely, it will take weeks,or even a month or two.
  • Then you have to present the check to your bank, which then has to turn around and present the check to your customer's bank. The entire process takes anywhere from several days to several months.
 

The Need Is Clear…We Are Here To Fill It?

 

You can see why all kinds of businesses are excited to find out we offer Pre-Authorized Checking. Just like with doctors, you can collect your money in just a matter of hours-not days or weeks...and deliver a stack of checks to you every month for you to immediately deposit into your bank., and we do it all without any effort on your part!

Pre-Authorized Checking is really a win-win situation for everyone. You win as a business because you collect more of your money faster than you would otherwise, and you get it for a lot less cost than with other means, such as credit cards.

 

These Can Be Listed….

 

Here is a partial list of the kinds of businesses who will benefit from Pre-Authorized Checking:

  • private schools
  • trash pick-up companies
  • non-profit organizations
  • apartments
  • answering services
  • janitorial services
  • trade schools
  • newspapers
  • pager and voice mail services
  • public radio and television stations (for monthly donations)
  • funeral homes
  • medical equipment stores
  • alumni associations
  • 2nd chance financing auto dealers
  • rent-to-own stores
  • lawn care services
  • self-storage companies
  • marinas and private airports
  • maid services
  • musical instrument rental stores
  • cable TV services
  • buying services... and many others.