With Lubbock National Bank's ACH debit origination services, you can completely automate your collection process, making it quick and easy. Once your customers agree to have their recurring payments debited from their accounts, you simply generate an electronic file and transmit it to Lubbock National Bank for processing. Collected funds are then deposited into your LNB account.
Lubbock National Bank's ACH debit origination guarantees accurate payments from your customers and enhances your credit management process. It also ensures timely receipt of those payments, so you can improve your ability to forecast cash flow.
ACH direct deposit saves your company the time and expense of producing paper checks for payroll, expense reimbursements, stock dividends, company bonuses, pensions, annuity and interest payments. With ACH direct deposit, your employees don't need to visit the bank to cash or deposit payroll checks.
Direct deposit can significantly reduce the risk of check fraud for your company, and eliminate the risk of check loss or potential fraud for your employees.