Collection

The faster and more efficiently your receivables are collected, the faster cash is available for investment, operating capital or debt reduction.

ACH Cash Concentration | ACH Direct Payment | Merchant Credit Card Services | Lockbox 

ACH Cash Concentration

Cash Concentration is a corporate electronic transfer of funds application, utilizing the Automated Clearing House (ACH). Cash Concentration, a debit application, is usually an intra-company concentration of funds from multiple bank locations into a central bank account. 

BENEFITS:

  • Funds collected on dates selected
  • Improves cash-flow forecasting and funds management
  • Provides 24-hour funds availability from or to outlying locations
  • Convenience of automated transfers
  • Reduces the need for expensive wire transfers 

Back to Top

ACH Direct Payment

Direct Payment is an ACH debit application that transfers funds out of a consumer's account at their bank for recurring or other consumer-approved payments, utilizing the ACH.

BENEFITS:

Company Benefits:

  • Reduces processing costs
  • Improves cash flow
  • Reduces number of delinquencies
  • Improves customer retention
  • Eliminates check handling
  • Fast return-item processing

 

Consumer Benefits:

  • Eliminates cost of checks and postage
  • Reduces time required to pay bills
  • Knowledge of exact payment date
  • Eliminates past-due payments
  • Eliminates late charges
  • Convenience of bills paid while away from home

Back to Top

Merchant Credit Card Services

This service allows your customers to make credit card purchases from you by using their VISA®, MasterCard® and Discover® credit cards.* With credit card processing through First Data, you can transmit your clients' credit card charges today and have your Bank of the Ozarks checking account credited for those purchases on the next business day. If you already have a credit card processor, we can evaluate your past three months of credit card history and provide you with a proposal of services and costs.

BENEFITS:

  • Provides you with the ability to grow your sales volume by offering a credit card charge option
  • Next business day credit to your checking account of credit card sales
  • Reduces paperwork administration
  • A credit card settlement system that is electronically based
  • Access to customer service 8 a.m.-5 p.m./Monday-Friday (Central time)
  • Access to 24-7 technical telephone support

*American Express® transactions not eligible

Back to Top

Lockbox

Lock Box is a service used by businesses to expedite the collection of remittance payments, improve availability of funds and accelerate cash flow. When your customers mail in payments for your invoices, they will actually send them to a designated post office box that is managed by Bank of the Ozarks. Each business day, we collect your payments from the designated post office box, process your deposit(s) and provide you with relevant information. This service will help streamline your receivables.

BENEFITS:

  • Increased availability of funds
  • Reduced processing costs
  • Effortless deposits
  • Improved mail receipt time
eStatements - An eco friendly alternative to paper statements.