PRE-AUTHORIZED CHECKS

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abs — Wed, 09 Sep 2009 19:29:46 +0000

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PRE-AUTHORIZED CHECKS FOR BUSINESSES

abs — Mon, 31 Aug 2009 19:56:35 +0000

As a business owner how many times have you heard, “The Check’s in the Mail”

Even with the best intentions, some customers will have difficulty making payments to a business on time. Whether it is because customers cannot afford a large payment, they simply forget to make it, or any other number of excuses, the bottom line is this: when a business does not get paid on time it can cause major problems. Poor cash flow is cited as the number one reason why new businesses fail. At this point a business owner has two choices, they can continue to spend a small fortune using traditional methods attempting to collect what their customers owe them, or they can switch over to one of the fastest growing methods for receiving payments today. It is called Pre-Authorized Checking™ (PAC) and now any business owner can start using it immediately to increase their company’s bottom line.

Are these excuses familiar?

“Your invoice must have gotten lost in the mail.”
“Did you send me a bill this month?”
“Can’t you draft this from my checking account?”
“Sorry, I forgot to mail my payment.”
“Let me look at my checkbook, and I will call you right back!”
“I thought it was due the 15th!”
“I’ve been out of town for a couple of weeks.”

The reasons for untimely payments could go on and on. The number of customers paying in 30, 60, and 90 days past the due date is increasing. By using PAC, a business can reduce their receivables and help eliminate many of the collection problems before they even occur. PAC also improves customer retention by allowing your customers the option to be on an automated payment system. Studies have shown that consumers who utilize an auto pay system stay with that business in excess of 90% of the time. Business owners using PAC have also found that it helps them attract new customers by using it as an in-house payment or financing plan. This allows their customers to purchase products or services they might not otherwise be able to afford. The best news is that in most cases there are no monthly minimums, no monthly fees, and no on-going cost to the business owner. There is only a small processing fee for drafting each check. This fee can either be included in the customer payment or can be paid by the business at the owner’s choice.

Here Is How It Works:
PAC ensures that your payments are received on time each month, every month. A customer simply completes the release form to sign up for the program. This form is then forward along with other completed forms to Alliance Business Solutions, LLC. Our processing center prints the pre-authorized checks for the agreed upon amounts and delivers them to the business on the scheduled date(s). Owners simply take the pre-authorized checks to their banks and deposit them like any normal check. Depending on the volume of accounts, Alliance Business Solutions, LLC can even deposit the checks for a business.

With PAC there is no computer access into a customer’s checking account like a traditional ACH. Their check is simply re-created on the agreed-upon day each month for deposit into the business owner’s bank account. Their pre-authorized check is noted on their monthly bank statement like any other check. This non-threatening approach makes signing up customers on PAC very easy. Because you will be in control of the checks being deposited, there is no chance for the bank to make a mistake on your customer’s account. This flexibility allows you to even hold a check for a few days if necessary for your customer without any problems or fees.

There is no cost for software, hardware, phone lines, or any of the typical expenses required for electronic fund transfers by the bank.

Considering convenience, cost efficiency and excellent service, PAC is rapidly becoming one of the nation’s leading methods of automatic payment processing. Major retail, utility, mortgage companies, and insurance companies have utilized this system for over 20 years! Now Alliance Business Solutions, LLC can make it available to any business regardless of its size.

PRE-AUTHORIZED CHECKING FOR PATIENT PAYMENTS – TESTIMONIAL LETTER

abs — Mon, 31 Aug 2009 19:51:08 +0000

Below is a letter from a doctor that implemented the Patient Payment Plan™ and his thoughts on its effects to his practice.

Norman G. Becker, Jr., D. D. S.
Practice Limited to Periodontics

Dear Colleague,

We all face the dilemma of how to collect our fees from patients while still providing the professional care they seek. This leaves us with two financial decisions: 1) limit the credit risk by requiring the patient to pay in full at the time of service, or 2) offer in-house payment arrangements and hope the patient honors the payment terms. The first decision limits your income as business is turned away, and the second increases your administrative costs and headaches.

Nine months ago a representative of the Patient Payment Plan™ (PPP) approached me with a unique solution to the traditional payment dilemma. The solution was to set up my patients on affordable monthly payments and collect whose payments using automatic bank deductions from their checking accounts. I liked the idea but was skeptical at first thinking patients would never agree to such arrangements. Much to my surprise, I now have 22 patients on automatic deductions and I am very pleased with the results. My office has realized benefits too numerous to list, but I would like to share these:

I am now more WILLING to extend credit to my patients because I am certain that PPP will collect my fees. In fact, my collection rate with this service is almost 98%. And since I am willing to extend credit, I expect my revenue to increase by almost $50,000 this year as I can collect from patients I might have turned away before.
The service helps me filter out those patients who would have otherwise been payment problems. Some patients will not agree to an automatic deduction program and will instead opt to pay in full.
Since my staff no longer has to deal with internal payment arrangements, they can concentrate on patient care and other important operating aspects of my practice. In essence, I’m finally out of the banking business.

The banking technology PPP uses has been around for many years and has been successfully used by insurance companies to collect monthly premiums. Now you can benefit from it. It has made a believer out of me, and I urge you to fully investigate this valuable practice tool.

Sincerely,
Dr. Norman “Bill” Becker, Jr.

DO YOU HAVE ACCESS TO OUR CUSTOMER’S OR MY BANK ACCOUNTS?

abs — Mon, 31 Aug 2009 19:37:52 +0000

Our system does not have the ability to electronically access any bank account information. It is a proprietary software that was developed to store information and print checks only.

WHAT IS THE AGREEMENT BETWEEN YOU, ME AND MY CUSTOMER?

abs — Mon, 31 Aug 2009 19:28:14 +0000

Alliance Business Solutions, LLC prints pre-authorized checks on behalf of your customers. Any contractual or cancellation clauses in the agreement will be settled upon prior to initiating your service. We will go over typical arrangements and make suggestions on a course of action depending on the individual needs of each business.

HOW IS MY CUSTOMER INFORMED THAT THEIR PAYMENT HAS BEEN SUBMITTED?

abs — Mon, 31 Aug 2009 19:25:46 +0000

A customer’s check is noted in their monthly bank statement. The check will be numbered as “000″ or will not be numbered at all. This prevents a conflict with their checkbook numbering system. The on-line bank account statement will refer to this transaction as a “Pre-authorized Check.” The customer can then balance their checkbook as usual.

HOW DO YOU COLLECT FROM ME?

abs — Mon, 31 Aug 2009 19:23:10 +0000

We use the same technology to collect from businesses using PAC that they use to collect from their customers. Alliance Business Solutions, LLC simply creates a bank draft from the business’ account for the amount of the combined service fees for a given month. Here is an example to make this absolutely clear.
Say that a business has 50 customers on the Pre-Authorized Checking service. The monthly invoice to each of these customers is $50 each to keep the math easy. 50 customers at $50 each would be a grand total of $2,500 collected each month using PAC. The agreed upon service fee for each of these drafts was $2.00, again keeping the math easy. This would mean that the service fees would total 50 customers times $2, or $100 each month. In this scenario, Alliance Business Solutions, LLC would hand the business a stack of 50 checks that totaled $2,500 each month. The next day, we would produce a draft, pre-authorized by the business, for the amount of the service fees totaling $100. The business’ net would be $2,400 each month

CAN THIS PROGRAM WORK FOR ME IF THE AMOUNT BILLED IS DIFFERENT EACH MONTH?

abs — Mon, 31 Aug 2009 18:56:51 +0000

Our PAC system works well in situations in which the amount owed by customers varies from month to month. The only difference in the program is that the business would need to send out a monthly statement to their customers with varying payments to let them know the amount to be drafted so they could make a note in their checkbook register.

WHAT KINDS OF BUSINESS WILL PRE-AUTHORIZED CHECKS WORK FOR?

abs — Mon, 31 Aug 2009 18:51:17 +0000

The answer is simple, if a business takes payments PAC will work for them. Whether it is automating their recurring monthly payments, helping to collect slow pay accounts, or offering an in-house payment plan to potential customers PAC is the unique low cost tool that any business can use to increase profits.