Payment Collection & Disbursement
Wholesale & Retail Lockbox Processing
Bangor Savings can serve as a depository agent, collecting and processing all mail that contains remittance payments. You receive daily reports via data transmission, magnetic tape or diskette. Check and remittance imaging is available on CD-ROM and the Internet.
Electronic Payment Services
A cost-effective way to electronically collect and disburse funds. Bangor Savings Bank offers a full range of Automated Clearing House (ACH) services. Applications include:
- Direct Deposit (payroll, pensions, expense reimbursements)
- Vendor Payments
- Cash Concentration
- Recurring or Pre-authorized Debits
- State & Federal Tax Payments
- Telephone Check Payments
Check Recovery Services
Bangor Savings Bank is able to resubmit non-sufficient funds (NSF) items electronically on your company’s behalf in an attempt to collect the face value of the check plus an additional NSF fee from your customer. There are numerous benefits to collecting checks through the ACH network, including the fact that many banks post electronic transactions before paper checks, increasing the likelihood of collecting funds owed to you.
Name the time and place and bonded couriers will be there to transport your funds for deposit and deliver petty cash or coin orders.
Ideal for companies with multiple locations. Make daily deposits at any convenient financial institution, yet concentrate funds into one investment account. Using our Treasury Online service, you manage the movement of funds right from your desk.
Each day before noon, you receive notification of the checks that will be presented against your account, allowing you to make investment decisions.
Whether you want to take payments via credit card or electronic debit from the payor’s checking account – we have the expertise to help. From start to finish, our team will work with you on marketing, implementation and customer service training to ensure collecting payments is a snap.