| Step
1 |
Sign
up Completion of Merchant Application |
| |
Immediately
after the sales and marketing cycle is completed the
prospect can begin our services. The Bank will have
the prospect complete an EFT Network Merchant Standard
ACH Processing Services Agreement which can be
customized with the Bank's logo and information. This
Merchant Agreement forms the legal basis to conduct
ACH transactions to and from the Customer’s
bank account. |
| |
|
|
| Step 2 |
One
Day Customer Set-Up |
| |
The
Bank or prospect can either email or fax a completed
application together with a copy of a VOIDED check,
from the account from which EFT Network is to Debit
or Credit Customer for the ACH services, to our New
Account Setup department. |
| |
Email:
lisal@redeposit.com
Fax: 914.747.7218
|
| |
|
| Step 3 |
Customer Underwriting
Review and Approval |
| |
EFT
Network completes its review of the application, credit
check and other underwriting procedures within one
to three days. If the prospect is declined, EFT Network
will contact the Bank to advise why the prospect was
declined, and any remedies that may be available for
approval. If the prospect is approved, EFT Network
will establish the prospect within its operating systems,
issue the required FileCode(s) and Password(s) and
contact the Bank with this information. Alternatively,
EFT Network can forward this information to the Customer
directly. EFT Network will contact the Bank or Customer
to verify what type of equipment, scanner, stamps,
etc., is required, if any.
|
| |
|
| Step 4 |
Equipment
Deployment
|
| |
If
requested, EFT Network will deploy required equipment
to the Customer within one to two days. Additional
time may be required due to scanner manufacturer delays,
or for preparation of custom stamps. The customer
will receive equipment along with a welcome kit, introductory
materials, user and installation guides. |
| |
|
| Step 5 |
Installation
and Training |
| |
EFT
Network will conduct all required installation processes
and training with the Customer staff either online or
by telephone. For larger Customers, EFT Network will
arrange for our technical support team to conduct an
onsite training and installation session. |
| |
|
| Step 6 |
Customer
Service and Technical Support |
| |
Let one of our experienced Customer Support representatives
help you find the information you need. EFT Network's
Support Center consists of a team of dedicated Technical
Service and Customer Support professionals committed
to helping our customers integrate our ACH processing
solutions with your applications. Our Support representatives
are available 8:00am to 7:00pm Eastern time.
In addition to live telephone
support, EFT Network offers a web-based support option,
Virtual Technical Support and Virtual Customer Service.
Registered users will have the ability to place a
new support call without even picking up the phone,
or review technical guides and information.
Email:
support@redeposit.com Virtual
Technical Support
Tel: 1.800.492.2794 Virtual
Customer Service |
| |
|
| Step 7 |
Billing |
| |
On
or about the 5th business day following a regular
monthly service cycle, 1st of Month thru last day
of Month, EFT Network will issue a Statement or Invoice
to the Bank which will describe the Bank's transaction
activity all of the activity of the Bank’s Customers.
Transaction activity is itemized by Customer and will
include information for both originated and returned
transactions, together with any other amounts owing
for initial Customer set-up and recurring monthly
account service charges. The regular monthly invoice
is paid between Bank and EFT Network via an ACH debit
against the account so noted in the Agreement between
EFT Network and the Bank. The invoice is sent to the
Bank via an automated FAX. The debit to pay the invoice
is usually made at least 10 days after the date of
the invoice. Billing to bank for amounts owing for
equipment supplied to Customers are made as they occur. |
