Receivables Management

Cash Management

Accelerate your receivables and improve your cash position.

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

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 your day-to-day business activities. The last thing you need to worry about is making multiple trips to the bank. With ONB Express Deposit, you can deposit checks from the convenience of your office.

Here’s how it works:

Sum the total of your checks for deposit—no deposit slip needed
Checks are scanned into Old National’s Express Deposit software
Deposit is submitted electronically using a secure, online connection

Benefits

No trips to the bank
Deposit adjustments minimized due to the built-in balancing mechanism
Eliminate geographic limitations
Consolidate your multiple banking relationships
Extended deposit cutoff time - 6:00 PM EST

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 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, allowing you to 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: