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Treasury Management > Collection Services > Electronic Collections  


Electronic Collections
Our suite of electronic remittance collection services offers you speed, accuracy and flexibility. We'll help you streamline your collection processes, accelerate funds availability and provide technologically advanced payment options to your customers.

ACH Services
U.S. Bank is one of the nation's top volume originators of Automated Clearing House (ACH) transactions. We offer a variety of initiation options for collecting electronic payments including web-based and direct data transmission. With ACH collections, your cash flow forecast and decision-making information is enhanced.

SinglePoint ACH
SinglePoint has a powerful, secure and easy-to-use online ACH origination service. Using this online service, you can create ACH debit and credit transactions and transmit them directly to the bank for processing.
  • Enter, store, retrieve and edit your repetitive collections anywhere at anytime.
  • Collect a variety of transactions from consumers and/or businesses.
  • Save remittance processing and depositing expenses and expedite your funds collection.

Direct Collection
Would you like a cost-effective, automated way to collect repetitive payments? Send us an electronic file of pre-authorized ACH debits to be made to your customers' accounts. We will process the transactions and deposit the funds into your account on the settlement date.

  • Reduce your administrative paperwork, processing time and staff expense by collecting payments electronically.
  • Improve your customers' satisfaction by ensuring that their bills are conveniently, reliably and automatically paid.
  • Collect your remittances by sending your input file to the bank via a mainframe, Internet or PC transmission.

ACH Receipt Reporting
Would you like detailed information on your incoming ACH transactions without waiting for your checking account statement? You can obtain daily detailed information with our ACH Receipt Reporting. This service provides:

  • Timely, comprehensive detailed information.
  • Report options to meet your needs, including data transmission or a U.S. Bank information reporting service.
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Bill Consolidator Payments

Electronically receive bill payments from customers using Internet banking or other bill payment services. Bill Consolidator Payments credits your designated U.S. Bank account on the same day payments are received and delivers the remittance data to you in a single consolidated file.

  • Eliminate costly exception processing while improving funds availability.
  • A single credit per day simplifies reconciliation for you.
  • Pre-screening improves the quality of information.
  • Receive paper-based and electronic payments in a single accounts receivable file.
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EDI Remittance

U.S. Bank Electronic Data Interchange (EDI) Remittance Services will help streamline your collection processes. When you exchange business information with your trading partners electronically in a standard format, you also gain efficiencies in your accounts receivable updating. You can:

  • Expedite your accounts receivable updating.
  • Reduce your internal administrative paperwork, processing time and staff expense.
  • Receive all of your remittance data from the bank in a format defined to your specifications.
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Concentration
If you have multiple deposit locations, U.S. Bank can consolidate your funds from any domestic financial institution into a single account for you via ACH transfers. You gain enhanced cash control and minimize idle balances. Consider these services:

Cash Concentration
With Cash Concentration, your local managers or representatives from other banks report deposit amounts daily.
  • Report deposit amounts via telephone, terminal or PC.
  • Concentrate funds the next business day if deposits are reported by a specified deadline.
  • Receive customized current day and historical reports.

Automated Cash Concentration
With Automated Cash Concentration, your individual depository bank (any domestic financial institution) sends prior day balance information to U.S. Bank.
  • Eliminate local manager's time associated with reporting daily deposits.
  • Gain efficient, reliable funds mobilization with automatic balance reporting.
  • Define your concentration calculation and transfer criteria.
  • Consolidate deposits two business days after they are made.

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Wire Transfer

Wire transfers move funds quickly and securely around the country or the world. Receive available funds immediately and eliminate the collection float associated with check remittances. There are three Wire Transfer initiation methods: Voice or touch-tone Wire, Automatic Standing Wire or Mainframe Batch Wire. In addition to these methods, wires may also be initiated through SinglePoint.

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E-Payment Service

Do you want to collect payments from your customers via the Internet? U.S. Bank E-Payment Service is the Internet connection behind the "pay" button on your Web site. In addition to accepting payments, this service provides you with reports and a daily electronic remittance file to update your receivables system.

  • Speed your collections and accelerate your funds availability.
  • Increase control of your cash flow through powerful, real-time reporting capabilities.
  • Give your consumer and business customers additional convenient payment options.
  • Implement an Internet payment option quickly while containing your deployment costs.
Learn more about E-Payment Service.

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For more information on these services, please contact us.

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