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| Direct Debit Will Have You Smiling |
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| Direct debit is Vanco's electronic funds transfer service used to automatically transfer funds from a patient's checking or savings account to your practice's account using the highly secure Automated Clearing House (ACH) network. Hundreds of orthodontic practices use our popular direct debit payment solution to automate the extended payment plans preferred by many families. During an initial setup, start and end dates are entered. After that, the recurring payment takes place automatically on a specified date every month until the plan is completed. Direct debit works equally well for processing one-time payments. |
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| Benefits |
| See how direct debit can create predictable cash flow, eliminate time-consuming accounting tasks, reduce collection issues and provide an attractive payment option to families. |
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| FAQs |
| Get answers to frequently asked questions about direct debit. |
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| How It Works |
| View the steps involved from the initial authorization to the confirmation of the deposit. |
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| Get Started |
| Request information, download a startup packet or contact us to learn how easy it is to get started. |
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| e.service® Electronic Funds Transfer |
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| Benefits Back to Top |
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| Direct debit offers important benefits to both your practice and your patients. |
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| Improves Cash Flow |
| By using direct debit to automate patient payment plans, funds are received exactly as scheduled, overall cash flow is more predictable and collection issues are minimized. |
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| Reduces Administrative Activity |
| Automating recurring payments with direct debit eliminates the time spent each month manually processing checks. Once a recurring transaction is set up for a patient, an electronic funds transfer takes place each month on the date you select until the plan is completed or changed. |
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| Notifies You of Returns Faster |
| When paper checks are physically deposited, it can take several days to determine if you have good funds. With direct debit, you receive notification of returns within two business days of the payment date allowing you to address situations quickly. |
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| Enhances Patient Satisfaction |
| Direct debit is a widely accepted and welcome way to simplify making monthly payments. Most families already make mortgage or utility payments using direct debit so they will appreciate having this method available to pay your professional fees. |
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| Provides Security |
| Direct debit is more secure than checks, which can be misplaced, lost or even stolen at many points throughout the process. |
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| Improves Accuracy |
| Direct debit eliminates the problems arising from posting errors, illegible checks and incomplete checks. |
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| Helps the Environment |
| Check use has declined dramatically in recent years in part because of the heightened awareness of the resources consumed in printing, processing and transporting checks. |
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| How It Works Back to Top |
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Authorize |
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Patients authorize your practice to debit payments from their checking or savings accounts. This is typically done in writing using an authorization from. |
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Enter the Payment |
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After receiving a signed authorization form from a patient, the payment information is entered into our system for processing. The easiest and most common way to enter payment information is through Vanco's online Service Center, a secure website designed for our clients to manage their electronic transactions. Once information is entered, the rest is automated. A friendly Vanco implementation specialist will help you get going and provide ongoing assistance. |
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Process |
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Prior to each scheduled payment, Vanco transmits a file with payment information via the Automated Clearing House (ACH) network. |
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Deposit |
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A deposit is made to your account for the total amount of the direct debit transactions. Recurring transactions of a fixed dollar amount will continue to process automatically as scheduled until the plan is completed, changed or cancelled. |
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Confirm |
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Vanco generates a report confirming all deposits made to your account. Patients in turn see their direct debit payments on statements from their financial institutions. |
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| Frequently Asked Questions Back to Top |
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| What is direct debit? |
| Direct debit is the secure electronic transfer of an authorized payment from a checking or savings account into your account. Direct debit may also be referred to as electronic funds transfer (EFT), Automated Clearing House (ACH) transfer, direct payment, automatic bill payment, automated debit and electronic payment. |
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| What types of businesses offer direct debit? |
| Businesses and organizations of every type and size now offer direct debit to manage a wide range of recurring fees, payments and donations. In addition to orthodontic, dental and medical practices, direct debit is used extensively by fitness centers, property managers and nonprofit organizations. |
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| Is direct debit just for large practices and organizations? |
| Not at all. In fact, Vanco specializes in providing electronic payment solutions to small practices, businesses and organizations. By combining the transaction activity from thousands of organizations of every size, Vanco is able to economically deliver big benefits to even the smallest practice. |
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| Are there any special hardware or software needs? |
| No. Your only requirement is a personal computer with an Internet connection. You simply log into Vanco's secure, easy-to-use, online Service Center to manage your transactions. Friendly customer service representatives are available to help you with any questions. |
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| Does the service require a long-term contract? |
| No long-term contract is required. Our philosophy is to retain our clients with superior products and service. |
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| Will my patients and their families use direct debit? |
| Absolutely! Chances are the majority of families you serve are already making or receiving payments via direct debit. According to a December 2007 Federal Reserve Payments Study, direct debit (ACH) is the fastest growing form of non-cash payment. |
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| How will my patients know the dollar amount and date of deductions from their bank accounts? |
| The debit amount and date will appear on statements from their financial institution. For a fixed recurring transaction, the amount and the timing will be the same as specified on the original authorization form and will continue until a change is made. If the planned payment date is a Saturday, Sunday or Federal holiday, the deduction will occur on the first business day following that date. |
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| How can I successfully introduce direct debit at my practice? |
| Vanco's Practice Builder web page will give you proven ideas for rolling out a direct debit payment option to your patients. |
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| Get Started Back to Top |
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| It's Easy To Get Started! |
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| Click here to request information or download a startup packet. |
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| You may also call 800-774-9355 and ask for a sales representative or send us an email at Sales@VancoServices.com |
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