Receivables

The first step to effectively managing your funds is to have an efficient practice for processing receivables. People's United Bank has a variety of receivable products to help you monitor your cash inflows. Let our products work for you and help you to save time and maximize your cash flow.

Scroll down for detailed descriptions of our receivable products.

To contact a Treasury Management Representative to learn more, call 1-888-280-4635.

For questions on existing Treasury Management Services, including Online and Mobile Banking support, please contact 1-866-831-5717.

Automated Clearing House (ACH)
Convenient, efficient and secure means for incoming and outgoing payments

Automated Clearing House (ACH)

Using eTreasury+, our state-of-the-art Web-based treasury management system, you can streamline the transfer of funds and reduce the number of paper checks you write. Use ACH services for T&E reimbursement, vendor payments, direct deposit of payroll, pre-authorized payments, tax payments, and more.


Same Day ACH is effective September 23, 2016. Click here to learn more.


Electronic Data Interchange (EDI)

An EDI item is a special type of ACH payment that has an addenda record attached to the financial transaction. The addenda record contains various pieces of information relating to the dollar amount being sent (an example of information included in an addenda record is the invoice number(s) that should be credited for the payment sent). People's United Bank is able to interpret this information and provide you with a same-day report of information the sender put in the addenda record.  

Features and Benefits:

  • Improve productivity
  • Increase accuracy and reduce errors
  • Improve funds availability by avoiding delays created by invoicing and mailing of checks
  • Reduce your carbon footprint by eliminating the use of paper and ink.

 

Lockbox
Accelerate the collection of your receivables and save valuable time

Lockbox Service

Maximize your time through People’s United Bank’s  lockbox service. Our retail and wholesale lockbox services help accelerate the collection of your receivables and save valuable time by establishing and maintaining a post office box in your company's name. Incoming payments will be automatically deposited to your business checking account and the invoices needed to update receivable records will be returned to you via a secure electronic method.

Features and Benefits:

  • Decrease the client’s check payment turnaround
  • Minimize mail float
  • Facilitate image clearing of checks directly from lockbox operations
  • Gain visibility into your daily summary and detailed deposit reporting
  • Integrate multiple accounts within one lockbox
  • Record retention available for up to seven years
  • Research through our secure online Web Archive
  • Reduce your rejected items by utilizing our secure online Web Exceptions application

 

 

Remote Deposit Capture (RDC)
Secure, accurate check deposits with next day funds availability

Remote Deposit Capture (RDC)

Remote Deposit Capture provides a secure and convenient method of scanning and depositing your checks directly from your office location.  Checks are deposited electronically to one or multiple accounts from various geographic locations if needed. 


Watch an RDC demo

A video walkthrough of People's Remote Deposit Capture Service.

New Customers:
To get started using our Remote Deposit Capture Service, contact a Treasury Management Sales Representative 1.866.831.5717.

Existing Customers:
If you are an existing Remote Deposit Capture customer: click here to order supplies or purchase a scanner online


Features and Benefits:

  • Streamlined processes
  • Increased production
  • Reduce paperwork and employee liability
  • Consolidate banking relationships
  • Eliminate trips to the bank
  • Deposit funds after hours

 

 

Merchant Card Processing
Customize the receipt of credit and debit card payments

Customers have come to expect the ease and flexibility of using credit or debit cards when making purchases. Our subsidiary, People’s United Merchant Services, LLC1 has the know-how to build a card acceptance program that’s right for your business.

Our services include:

Features and Benefits:

  • Storefront, catalog, online and e-commerce transaction processing solutions
  • Acceptance of all major credit and debit cards
  • Special programs for retail, lodging, restaurants and supermarkets
  • Data security solutions
  • 24-hour access to customer contact center
  • Online back office management

People's United Merchant Services offers card acceptance solutions customized to your particular needs—and secure electronic direct deposits into your People’s United Bank account.

For more information, visit a business banking expert at any People’s United Bank location. You can also contact us online at peoplesunitedms.com.



Get Started

 

Deposit Reconciliation
Itemize and track your deposits by source

Deposit Reconciliation

Deposit Reconciliation enables you to track deposits by source (such as department or store location) that is made into a single checking account.  Locations are reported daily in the eTreasury+ transaction report.  By assigning a unique location number, your deposits will be sorted separately (according to location) with subtotals and grand totals that will be presented in a convenient monthly report.

 

 

Image Cash Letter (ICL)
Secure Deposit Processing without leaving your office

The Image Cash Letter service enables your company to utilize your existing imaging infrastructure to capture images of commercial and personal checks received; and securely submit these images as an electronic deposit file directly to People's United Bank. These deposits can be submitted from one or multiple approved office locations, to one or multiple approved accounts. Further helping your company to streamline the cash flow process and optimize funds availability

Features and Benefits:

  • Streamlined processes
  • Increased production
  • Reduce paperwork and employee liability
  • Consolidate banking relationships
  • Eliminate trips to the bank
  • Deposit funds after hours

 

Digital Payment Services 
Accept customer payments online and by phone

Our Digital Payment Services (DPS) enable your organization to accept ACH (electronic check) and credit/debit card payments from businesses and consumers online and over the phone. With DPS, your customers will be able to view stored ACH, credit card and billing information. Customers can set up one-time, future dated and/or recurring payments; all through a secure customer portal.

Features and Benefits:

  • Converts paper payments to electronic payments
  • Accepts one-time, future dated and recurring payments
  • Secure customer portal and digital wallet
  • Convenience fee collection available

Digital Payment Service Options

QuickPay

QuickPay is a secure web-based customer solution tailored to match a business’ branding while facilitating one-time payments.

  • ACH/Electronic Check and Debit/Credit Cards3
  • No customer enrollment required
  • Biller console included
  • Email notifications

Interactive Voice Response

The Interactive Voice Response (IVR) is a robust, touch tone payment system that enables customers to make secure payments over the telephone.

Enrolled Biller Direct

Enrolled Biller Direct is a secure web-based customer solution that allows billers to offer their customers the convenience of viewing and paying their bills online with a secure user ID and password.

Customers can store both ACH/Electronic Check and debit/credit card payment information in a secure environment.

  • Enrolled portal
  • Bill presentment
    • - Summary
    • - Full Presentment (Bill Template)
  • ACH/Electronic Check and Debit/Credit Cards3
  • One time, future dated or recurring payments
  • Email notifications
  • Biller console included

3People’s United Merchant Services relationship required for this service. 

Related Information


Disclaimer


1People's United Merchant Services, LLC (PUMS) is a joint venture of People’s United Bank, N.A. and Vantiv, LLC. PUMS is an indirect subsidiary of People's United Bank, N.A. Vantiv and People's United Bank, N.A. are not affiliated companies. Credit approval required.

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