Electronic Check Clearing
FISC Solutions provides electronic check clearing, also known as image cash letter, services to our lockbox clients. Instead of transporting physical paper checks to a local banking branch, FISC converts checks to an electronic file. The file is sent via secure FTP and checks are cleared through FISC's clearing channels. The following day, FISC clients receive an ACH credit for the full amount of the prior business day's deposit. The client thus receives 100 percent next day availability on the deposit and reduces banking fees and float.
FISCheckAccelerator Solutions include:
- Client-specific business case to show client savings.
- Preparing and presenting daily image cash letter to FISC's partners.
- Sending an ACH credit to the client's bank account for 100 percent of the deposit amount the business following business day.
- Choice of automatic re-presentment or manual presentment of returned checks.
- Destruction of original documents.
- Automatic redeposit.
Remittance/Lockbox Solutions include:
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