Electronic Data Interchange
Get paid faster without losing the detailed transaction data that comes with check payments.
Opus Bank’s Electronic Data Interchange (EDI) is a low-cost alternative to accepting paper-based payments with remittance information such as a list of invoice numbers or purchasing orders. This service allows you to receive electronic payments directly to your business checking account and an electronic report with remittance information, and eliminates delays and expenses caused by mailing and check processing. You will automatically receive all important remittance information for each payment – invoice number, date, originator name, and dollar amount – by e-mail or fax.
More About Electronic Data Interchange:
- This service is well suited for businesses that receive large numbers of electronic payments with remittance information.
- Healthcare payments will soon-be required by the Federal government to receive Automated Clearing House (ACH) payments.
- EDI is the most efficient way to receive electronic payments since remittance data is attached.
- EDI accelerates collections and speeds up payment processing.
- Paperwork and administrative expenses are reduced using EDI.