AgVantis' Electronic Transaction Processing Services

AgVantis' electronic transaction processing (ETP) services will satisfy your Association’s operational needs and meet the growing needs of your borrowers. These services will lower costs, save time, streamline processes and reduce your overall reliance on commercial banks.

Thus, AgVantis' ETP services help your Association become more efficient and effective. AgVantis’ ETP services consists of the following components:

• Lockbox Processing
• Wholesale Lockbox Processing
• Purchase Card
• Corporate Checks
• ACH Processing
• Electronic Draft Processing
• CHECK 21 Remote Capture Process

Additional Information & Highlights:

• Automated Transactions
  Convert more than 80% of your Association’s manual transactions to automatic electronic transactions, ready to be processed without staff involvement. No more manual storing and accessing paper-based drafts as online images of both drafts and checks are immediately available.
• Lockbox Processing
  Lockbox payments are sent to a central post-office box where AgVantis’ lockbox partner processes the payments, before returning them automatically to AgVantis for automatic posting to your borrowers’ loans!
• Wholesale Lockbox Processing
  For larger borrowers who sell products directly to other companies: lockbox payments sent directly to a central post-office box where AgVantis lockbox partner processes the payments, before returning them automatically to AgVantis for automatic posting to the loan account, scanning, and prompt availability to the Association.
• Purchase Card
  Round-the-clock borrower access through a VISA card to the operating loan, a card usable anywhere VISA is accepted, with transactions posted automatically to the loan daily, weekly, or monthly. Also, your Association can customize the design of the card itself, if desired.
• Corporate Checks
  Direct clearing of your Association’s corporate checks through the Federal Reserve provides significant cost savings in per-item processing charges and minimum balance requirements.
• ACH Processing
  AgVantis’ management of the exchange of money between your Association and its borrowers, includes the reception and production of your daily Automated Clearing House (ACH), followed by automatic posting to the loan accounting system, with logs for your review.
• Electronic Draft Processing
  Drafts are cleared directly through the Federal Reserve. You can eliminate processing charges, minimum balance requirements, collected funds charges, and wire transfer charges. Transactions are posted electronically to the loan account or staged for your review while images of the original drafts are securely retained.
• Check 21 Remote Check Capture
  Borrower checks are scanned and electronically deposited at your Association – you save time and money over processing checks at a commercial bank (no more wasteful, counterproductive trips to local banks for physical deposit of checks). Images and check information is uploaded daily to the Federal Reserve