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Small Business - Frequently Asked Questions

Bill Concentration

Can Union Bank eliminate the checks I receive without the remittance coupon?

How are payments made?

Do I have to do a lot of programming to participate?

How is information kept private?

Do electronic bill concentration transactions show up on all my reports?

Can Union Bank eliminate the checks I receive without the remittance coupon?

Yes. Electronic bill concentration eliminates the checks you receive without remittance coupons. This enables you to receive your customers' online banking payments electronically. Missing remittance coupons will no longer be a problem, because they are automated.
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How are payments made?

Payments with the same settlement date are consolidated and credited in a single entry to your account. The remittance information is transmitted to you, so that you can update your accounts receivable system.
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Do I have to do a lot of programming to participate?

It depends on how your receivables system operates. With electronic bill concentration, we will work with you to accommodate your specific system requirements.
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How is information kept private?

The electronic bill concentration service uses a secure method of transmission to send the remittance detail to you.
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Do electronic bill concentration transactions show up on all my reports?

Yes. All bill concentration activities show up on your bank statements and any other custom reports you receive from the bank.
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