The world's local bank
Bill Payment Receiver Service is a paperless way to collect your customers’ payments and streamline your receivables processing.
It eliminates the hassle of dealing with cheques and accelerates transactions. Your customers can initiate payments to you in seconds, at their convenience, either online or by phone. They no longer need to write cheques, mail remittances, or try to figure out if their payments will reach you before the due date.
Reduces clerical errors and administrative demands in your receivables department associated with opening batches of envelopes filled with remittance slips and cheques and preparing and making deposits.
More importantly, details of your customers’ payments are consolidated and sent to you each day in a single transmission. Depending on your business needs, the payment information can be sent by fax, email or in an EDI 820 format, allowing you to automatically update and reconcile your accounts receivables.
The easier it is for customers to pay you, and the faster you convert their payments into cash, the more control you have over your cash flow and working capital.
Key Benefits and Features
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Consolidation of payments made by phone or through Web-based banking platforms used by customers of HSBC Bank Canada or other financial institutions ·
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Payment detail reports that include payee name, amount of payment, your customer’s account number, and other key transaction details ·
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Ability to warehouse and consolidate bill payment details ·
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The flexibility to receive payment details via an EDI file standard, fax or email ·
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Access to our toll-free help desk
