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A ccounts R eceivable C onversion

ARC Electronic Lockbox. A ccounts R eceivable C onversion. What is ARC. A solution that enables merchants to take advantage of check conversion with the payments they receive through the mail or drop box Provides ACH conversion of funds Designed for lower volume merchants

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A ccounts R eceivable C onversion

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  1. ARC Electronic Lockbox Accounts Receivable Conversion

  2. What is ARC • A solution that enables merchants to take advantage of check conversion with the payments they receive through the mail or drop box • Provides ACH conversion of funds • Designed for lower volume merchants • Merchant can process approximately 30-45 checks per hour • A NON-GUARANTEE program (merchant will only receive funds that GETI collects)

  3. Payments are gathered from mail or drop box

  4. Specialized cable connects the imager to a PC with Internet connection PC with high speed internet access RDM Imager

  5. Logon to account on GETI web site

  6. Home Page

  7. Click “Scan Check”

  8. Scan the front and back of the check through the RDM imager while connected online PC with high speed internet access RDM Imager

  9. Image of check will appear on the web site …. Automatically populates account data….. Merchant inputs the amount of the check and any additional optional information and then submits it

  10. Repeat this for each check

  11. Access reporting through multiple query options

  12. View Summary & Details of all transactions

  13. View details on returned items

  14. ARC Solution Benefits • Reduced costs from handling paper checks • Trips to bank • Deposit slips • Deposit and NSF fees from local bank • Lost checks • Employees to handle the checks • Maximize cash flow • Know within 24-48 hours if funds have cleared • Compared to the average 5-14 days it takes for paper checks

  15. ARC Solution Benefits (cont.) • ACH transactions take precedence over paper checks at the consumer’s bank • Non-Sufficient Fund items can be automatically resubmitted electronically to attempt collection • Easy set-up; software downloads to the PC with easy-to-follow directions the first time the merchant logs on to the site

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