How do I receive electronic payments from trading partners or customers?
Our EDI receipt collection services let you expedite the receipt and reporting of electronic or lockbox payment transactions from your trading partners or customers. Through EDI payment collection services, you will receive remittance advices and payments from multiple sources, including ACH, lockbox, and wire payments from your customers. EDI will also support your accounts receivable process by crediting your Union Bank account on settlement day; editing and validating the remittances; translating remittances into your required file format or “human-readable” reports; creating electronic lockbox file of EDI and paper-based remittances; and delivering remittance advices to you by transmission, fax, or mail.
