Online Banking

Collection Services

With Collection Services from Anchor Bank, you can increase your company’s productivity by speeding up the process of making working capital available. Offer your customers faster, more convenient payment options that help them manage their finances while helping you keep your balances at higher levels.

Lockbox Services

With Anchor Bank's Lockbox service, your incoming payments go directly to a post office box opened on your behalf by Anchor Bank. We collect the remittances 24 hours a day, seven days a week for processing and send the back-up information to you by courier, mail, or electronically eliminating your need for inhouse remittance processing.

How it works for you
• Wholesale Lockbox – Especially useful for companies with low-volume, large-dollar remittances. Receivables data is processed according to an agreement and checks are deposited directly to your account. All processing is done manually, which allows for a high level of customization.
• Retail Lockbox – Designed for companies with high-volume, low-dollar transactions. In contrast to a wholesale lockbox, collection documents are machine-readable allowing for efficient processing of large volumes. We can assist you with converting your bills into documents acceptable for a retail lockbox.

Key benefits to your business
• Access funds faster – Days can pass from the time your customer puts the check in the mail to when the money finally reaches your account. This “mail float” can really hurt your cash flow, especially with large-value payments from your corporate customers. Anchor Bank’s Lockbox service can greatly reduce the time it takes for a check to reach your account, so your money can start working for you sooner.
• Streamline your receivables process – Processing receivables can be an expensive, highly manual, error prone task. Opening the mail, capturing payment details, preparing control reports, organizing the deposit, going to the bank—this all takes time and costs you money. Anchor’s Lockbox service can help eliminate this time-consuming and costly procedure from your operations.
• Automate your receivables process – Anchor Bank sends you an electronic file listing details for all invoices paid. You can use this file to automatically update your receivables ledger.
• Improve internal security – Processing your receivables off-site provides a higher level of security and a clean audit trail.
• Increased efficiency – With Anchor’s Lockbox service, you may also choose to receive digital images of checks and remittance documents in place of the original items. This makes research and payment resolution much faster and easier.

Merchant Card Services

Today's consumers want options. Make it easy for them to pay for your products and services by accepting card payments. Anchor Bank's Merchant Card Services enable you to expand your customers' payment options simplify your business operations, and increase revenue.

Whether you run a retail store front, have an online store, operate a mail order or telephone order business, or sell to other businesses, Anchor Bank's Merchant Card Services provides your business an easy way to accept credit cards, debit cards, gift cards, and other payment options.

How it works for you
• Authorization – The cardholder pays for the purchase and the merchant submits the transaction to the acquirer. The acquirer verifies almost instantly with the issuer that the card number and transaction amount are both valid, and then processes the transaction for the cardholder.
• Batching – After the transaction is authorized it is then stored in a batch, which the merchant sends to the acquirer later to receive payment (usually at the end of the day).
• Clearing and settlement – The acquirer sends the transactions in the batch through the card association, which debits the issuers for payment and credits the acquirer. In effect, the issuers pay the acquirer for the transactions.
• Funding – Once the acquirer has been paid, the merchant receives payment. The amount the merchant receives is equal to the transaction amount.
• Statement and billing – At the end of each month, transaction data is compiled and fees come out in one lump sum on or around the 2nd business day of the month for the previous month's activity. A detailed statement of the previous month's activity is delivered around the 10th of each month.

Key benefits to your business
Regardless of your business's size or industry, there are many benefits in having the ability to process credit card transactions.
• Expand payment options – By accepting multiple forms of payment, you give your customers options and improve their shopping experience.
• Simplify business operations – As a merchant, card acceptance allows you to reduce overhead by eliminating many of the accounting, collection and paper work activities associated with your cash and check receivables. 
• Increase revenue – In addition, card processing is an efficient, convenient payment solution that helps you improve cash flow by ensuring timely, automatic deposits to your account. In addition, value-added services, like gift card, check services and prepaid card programs can provide a new channel for generating profits and increasing your revenue.
• Online reporting and support tools – A web-based transaction reporting system is provided that helps merchants manage their credit card acceptance. The reporting solution offers easy, online access to a comprehensive selection of reports 24 hours a day, seven days a week. This convenient online site allows you to display transaction history, authorizations, chargebacks, ACH history, your merchant statement and much more.
• Customer service and voice authorization – Customer support is available whenever you need it. A dedicated and well-trained staff of service professionals operates a 24/7 call center for voice authorization and client assistance. In addition, Higher Standards offers a local service number Monday through Friday during regular business hours.

 

Third Party Depository

Not located near an Anchor Bank location? With Anchor’s Third Party Depository Services, you can make deposits at any Wells Fargo location and let them process the money. Each business day, your funds are automatically swept into your account at Anchor Bank and made available to you according to the account regulations.

Remote Deposit

With Anchor Remote, the bank is never further away than your desk. Anchor Remote lets you make deposits into your bank account electronically without driving to the bank. 

How it works for you
All you need is an Internet enabled PC with a browser and a check scanner to accept check payments from your customers and vendors. We’ll receive your remote deposit and process the checks by IRD (Image Replacement Document). It's that easy. The result is faster deposits and incredible convenience for you and your business.

Key benefits to your business
• Convenience – Eliminate daily trips to the bank by making deposits any time you want – day or night – directly from your PC.
• Efficiency – Save time and money by reducing trips to the bank. In addition, labor-intensive manual deposit preparation time is eliminated, and research time and your storage needs are reduced through the use of the stored digital images.
• Cash flow – Typically, funds from deposited checks are not available to your business until those checks have cleared, which can take anywhere from 2-5 business days. By making more regular deposits, your transactions may be processed more quickly, making your funds available sooner.

ACH Origination

ACH (Automated Clearing House) origination lets you electronically send and collect payments through the ACH network, streamlining your payment processes and eliminating checks. ACH also provides precise control over your cash flow by giving you the ability to specify the settlement date of remittances and payments. We make it easy and affordable for your business to use ACH.

How it works for you
• You will need a Windows-based operating system and Internet access.
• We train your staff on how to use our system, and provide on-going support.
• Once you enter your payment information into the system, you can generate a formatted file to process and batch your transactions. You can save a specific batch and reuse it, which improves efficiency and reduces keying errors.

Key benefits to your business
• Increase efficiency – Using a single access point for payments and funds transfers can dramatically increase the efficiency of your operations. Storing payment information eliminates manual data entry and allows you to streamline recurring batch processing.
• Reduce costs and risks – By eliminating paper checks, you can significantly reduce costs while minimizing the errors that can occur when you manually process checks. Using electronic payments decreases the risk of check fraud and lost checks.
• Improved forecasting and cash flow – ACH Origination helps you gain greater control over your cash flow by specifying settlement dates for payments and remittances. In addition, you receive a complete record of transactions for a precise audit trail.

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