Receivables

Optimize your collection efficiency.

The collection processing is fundamental to any cash management system.

Services:

• Wholesale and Retail Lockbox
• ACH (Automated Clearinghouse)
• Cash Agent
• Citibank^®'s Deposit Reconciliation
• Cash Agent Services
• Merchant

Wholesale and Retail Lockbox convert the receivables to cash as quickly as possible and expedite the delivery of accounts receivables data, allowing for notifications of deposits and funds availability electronically. In a lockbox service, the bank will pick up receivable checks at the post office two times a day at pre-established hours. Latter we process and make the deposit for the client on the same day it is received from the post office.

Retail lockbox provides for high volume of receivable checks, plus the images of the checks and coupons if required. The service has the capability to capture information for change of address and returned checks and also provides for identified rejected accounts.

Cash Agent provides our customers with currency or cash collection and distribution services through an armored service, customer request cash to provide change for their sale transactions, for payroll, to handle withdrawals by their clients or other miscellaneous transactions.

Citibank’s Deposit Reconciliation: serialized deposits are provided for the customer identifying the areas/stores of the company which require deposit monitoring. Detailed information on deposit adjustments is also provided through electronic systems.

Remote Check Deposit: Citi^®'s Remote Check Deposit solution is the most effective way for clients to take full advantage of Check 21. Using RCD, clients can scan checks from the convenience of their offices, and then electronically transmit the images to Citi for deposit - eliminating the hassle and cost associated with delivering their deposits to the bank. Client will use software and a scanner provided by Citi to scan their checks and transmit to the RCD platform for processing.