Electronic Cash Letter
Financial Institutions and corporate clients now have options for taking control over their check clearing services. Regardless of the method used to create a cash letter, Fifth Third Bank's Electronic Cash Letter services can help you realize control over cash letter quality, resulting in fewer rejects and adjustments. You also might have increased capital available for reinvestment by eliminating transportation expenses.
Here's how it works:
- Capture checks using your internal legacy check processing systems.
- Collect images in an industry standard ANSI X9.37-2003 image cash letter.
- Electronically transmit items to Fifth Third Bank for deposit. (Send one single image file at the end of the day, or multiple files throughout the day.)
Fifth Third Bank's Electronic Cash Letter service can include image quality analysis, file validation, and image archive services to make sure that your electronic cash letters are as accurate and timely as possible. This means your company could experience fewer rejects/adjustments and get its working capital faster. Plus, reducing the need for check encoding can help you save time and money.
Fifth Third Bank's ongoing investment in advanced image-based technology provides you operational efficiencies without capital outlay. We have a strategic commitment to invest in image technologies and to deliver cost-effective solutions that lower your costs and help you improve your funds availability.
Electronic Cash Letter services help:
- Reduce costs.
- Reduce check fraud risk by expediting the deposit process.
- Enable fast and easy transfer of image files via our online portal, Fifth Third DirectSM.
Increase the efficiency and security of check processing and reconciliation while minimizing the risk and cost of check returns and fraud with Fifth Third Bank's Electronic Cash Letter services.
Find out more about our Electronic Cash Letter services. Contact a Treasury Management Officer or a Relationship Manager.
Deposit and credit products provided by Fifth Third Bank, Member FDIC.