Using The Payment Solution saves you the time and expense related to paper check handling and processing. Reduce date entry. Gain faster access to funds with no mail delays or checks sitting around not deposited. Provide your residents with an ultra-convenient payment method.
TPS offers faster turnaround for processed payments instead of a 5 to 15 day window offered by traditional banks. Additionally, you will receive faster insufficient funds notification, in days versus weeks with checks. Eliminate checks, along with the possibility of check fraud and misplaced checks.
ACH automated payments are much safer then paper drafts because far fewer people are involved in the process and that fact alone reduces the risk of fraud. ACH Automated Payments remove eyes and hands from the checks. According to the Federal Reserve, Electronic Check Processing is a safer method of moving money than using a paper check. Several studies initiated by the Fed estimate that paper checks processed through the "normal" banking system are handled, on average, 6 times. This is six sets of hands and eyes on every check -- and six opportunities for errors or fraud. With an electronic process, the number of times the check is handled is cut to one (at the most) and the information and the money is moved electronically and automatically. |
