Process

Offer your customers a variety of payment methods, while still streamlining your incoming payments to your company. The Bank of New York Mellon Treasury Services allows your customers to choose from:

• Check and paper remittance
• Check and electronic remittance
• Automated clearing house (ACH) payment with addenda record
• Financial electronic data interchange (EDI) transaction with remittance data sent directly to The Bank of New York Mellon, via a value-added network (VAN) or through the Internet
• Wire transfer

The Process:

1. Your trading partners choose a format in which to make their payments.
2. Originating financial institutions and VANs forward payments and/or information. (VANs only deliver data.)
3. The Bank of New York Mellon consolidates all receivables information — both paper and electronic.
4. Your company can receive an AR file, and electronic or hardcopy reports.

Back to Receivables