Collections & Receivables

For most businesses, improving cash flow starts with improving collections. The primary goal of these services is to expedite or simplify the flow of funds into your operating accounts. We offer:

Remote Deposit Capture

Tired of trying to beat the afternoon traffic and the clock to get your deposit to the bank before it closes? With Remote Deposit Capture, you don't have to leave your desk. Using a special scanner, you can capture check images and safely transmit them to Hancock Bank using a secure internet connection. You can deposit any time, any business day, with same‐day credit up to 7 p.m. (CST). As a result, you will receive faster access to funds and better cash flow.

Wholesale and Retail Lockbox

Lockbox is a widely used cash management tool for speeding up the collection of accounts receivable and maximizing available cash. The Wholesale version of the service is well suited to high-value payments (such as company-to-company payments), while Retail Lockbox can accommodate high volumes of consumer payments. The use of centralized mail hubs across the country results in faster deliver for mailed payments; since the payments arrive sooner, you have use of your cash more quickly.

Other benefits of lockbox can include:

  • Separating your payment receipt function from your billing function improves accounting controls.
  • You can view images of your payments on the same day they are processed.
  • Lockbox shifts the labor of deposit preparation outside of your organization.Electronic output options can enable you to automate the entry of payment data into your accounting system.

Automated Clearing House (ACH)

Note: ACH is addressed here as a Collections & Receivables tool. ACH is also used as a Disbursements and Payable tool, so you will find further discussion about ACH in that section.

Using the Automated Clearing House (ACH) can streamline your process for collecting payments, often at a lower overall cost than other collection methods. ACH benefits also include better control of payment timing, greater payment reliability and more accurate cash forecasting. The most common collection applications for ACH are:

  • Pre‐authorized debits
  • Vendor payments
  • Cash concentration

There are two ways to originate ACH payments for collection purposes:

  1. You can use our online banking application, Treasury Solution, to send batches of payments to the bank online for origination.
  2. You can send your ACH batches to the bank via a direct data transmission.

Whether you use Treasury Solution's ACH module or direct transmission, your access to the Automated Clearing House lets you concentrate deposits from your accounts at other banks or collect recurring payments from your customers.