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Cash Management

Receivables Management

Accelerate receivables and improve your cash position.

Utilizing Old National’s suite of Receivables Management solutions, your company can:

  • Accelerate collection of receivables
  • Maximize use of available cash and investment opportunities
  • Reduce or eliminate many labor-intensive tasks
  • Lower processing expenses


ONB Express Deposit

You’re busy managing day-to-day business. The last thing you need to worry about is making multiple trips to the bank. Your solution is ONB Express Deposit. Using a check scanner, your computer’s high speed Internet connection and our simple software, you can make deposits electronically right from your desk! 1

Here’s how it works:

  • Total your checks for deposit—no deposit slip needed
  • Scan checks, front and back, into the easy-to-use software
  • Submit your deposit using a secure, online connection
  • Find out more with our DEMO.

Benefits

  • Eliminate trips to the bank and standing in lines
  • Have a secure alternative during inclement weather
  • Enjoy an extended deposit cutoff time – 5pm CST and 6pm EST
  • Minimize deposit adjustments with the built-in balancing mechanism
  • Import check data into accounting software for 45 days
  • Access check images on your PC for 14 days – or 2 years if you use Old National BankConnectTM Plus
  • Eliminate geographic limitations and consolidate multiple banking relationships
  • Receive deposit confirmation by email

 

Retail Lockbox

Collecting receivables may be a small task for some businesses - but not yours. Your mailbox is full of incoming payments every day - payments that need to be opened, processed and posted. Instead of hiring additional staff, why not use a Retail Lockbox from Old National?

Benefits

  • Speed receivables collection 
  • Apply payments automatically to your A/R system
  • Reduce staff allocated to the receivables process
  • Reduce or eliminate trips to the bank
  • More cost effective than investing in processing equipment

 

Wholesale Lockbox

Speed the collection of payments with the use of Old National’s Wholesale Lockbox. Your customers mail their payment to a P.O. Box maintained by Old National. We pick up the mail, process the transactions according to your instructions, and make your deposit. Wholesale Lockbox is a tailored service, which allows you to receive information in a wide variety of channels, including secure e-mail and through the web.

Benefits

  • Eliminate bank trips
  • Accelerate receivables collection
  • Reduce time preparing and reconciling deposits

 

Consumer Direct Debit

Collecting payments is time consuming and costly. The process of invoicing, receiving payments, preparing deposits and handling collections is a challenge for any business. Consumer Direct Debit can simplify the process for you and your customer, allowing you to better utilize your resources.

Benefits

  • Reduce time spent processing payments
  • Eliminate redundant and manual processes
  • Standardize your receivables flow - you control the payment receipt
  • Enhance customer retention and service through expanded payment options

 

Cash Concentration

Liquidity management is difficult when geography requires the use of multiple banks. Manage your funds more efficiently by centralizing them into your account at Old National. Using Cash Concentration, you will gain improved efficiencies in your cash flow management, with opportunities to:

  • Reduce debt 
  • Invest idle cash 
  • Simplify accounts payable

 

Represented Check Service (RCK)

The collections process is time consuming and costly. Old National’s RCK Service allows you to streamline the collection process, so you can better utilize your time and resources. Convert your client’s returned check to an electronic transaction and increase your collection rate.

Benefits

  • Check Conversion increases likelihood of collection
  • Reduce time spent on the collections process
  • RCK allows you a total of three (3) presentment attempts

 

Merchant Processing

Choosing the right payments partner can be critical to your bottom line. Today, businesses need a credit card system that will work and grow along with them. Old National Merchant Processing offers you many valuable features, including:

  • Free online reporting 
  • Electronic check conversion service 
  • Gift card issuance and acceptance 
  • Online credit card acceptance 
  • Fast deposit settlement time
  • Credit, debit, corporate, fleet and prepaid card acceptance

Disclosures:

1.  Subject to credit approval.

Here's what you can do next

Visit Us
Contact Cash Management
Business Support
1-800-844-1720,
Option 1.

ONB Express Deposit

Check it out with our demo.