Receivables & Collections

Remote Deposit Capture

Enjoy the convenience of making remote business deposits with Cathay Bank’s Remote Deposit Capture Service¹. Our Remote Deposit Service can significantly reduce time-consuming trips to the bank or courier costs, extend processing times, and gives your business faster access to its funds.

Lockbox

To maximize cash flow and investment opportunities, Lockbox Service provides an efficient and cost-effective way to collect payments from customers. Cathay Bank’s Lockbox Service can help accelerate the collection process and maximize cash flow via streamlined remittance processing.

• Speedy and convenient access to critical information from paper receivables
• Improve staff productivity due to the automation of manual processes
• Advanced image services virtually eliminates paper by delivering checks and related documents via CD-ROM or online
• Reduce mail receipt and receivables processing time
• Improve check clearing and cash flow by minimizing float
• Increase profitability through improved cash flow
• Speed up and improve deposit reporting, exception processing and credit research

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Merchant Services

Increase your sales volume by expanding customer payment options, simplifying business operations and increasing revenue with Merchant Services. Our card processing solutions enable your business to accept credit cards, debit cards, electronic checks, gift cards and other payment options.

• Direct deposit of your sales transactions into your business checking account
• Competitive rates
• 24-hour customer service and technical support
• Funds are settled within 24 hours
• Expert monitoring and charge-back protection
• Check verification and warranty services
• State-of-the-art equipment and card processing software
• Real-time, web-based reporting capabilities
• Electronic Check Conversion allows you to accept checks at the point of sale and convert those items to ACH debit or image exchange items as a direct deposit to your account

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ACH Debit Origination

Automated Clearing House (ACH) Origination¹ allows you to originate electronic debits against your account and accounts at other banks with proper authorization. ACH debit transfers are commonly used to collect dues or payments, or pool funds from other financial institutions.

Cash Vault

For businesses that handle large amounts of coin and currency, Cathay Bank's Cash Vault Service is essential. Our Cash Vault Service provides efficient cash acceleration, plus the flexibility and security you need to keep your business running smoothly.

• Reduce exposure to loss or theft
• Expedite depositing and processing of funds to maximize availability
• Optimize cash acceleration

1. Subject to Bank approval