Electronic Data Interchange
Receive remittance information on receivable items
Fidelity Bank’s Electronic Data Interchange (EDI) service provides your company the ability to receive remittance information on receivable items. Remittance data could include dollar amount, invoice number, invoice date, customer account number and invoice description. This information makes it much easier to apply payments and avoid discrepancies.
EDI is an alternative to the traditional paper based method of posting payments and payment detail to your accounts receivables.
Features and Benefits:
- Accelerates posting via immediate access to detailed payment information related to your ACH receipts
- Reduces expenses associated with ACH transactions as online access is more efficient than relying on payment detail that is mailed or faxed
- Standardizes information delivery: Payment detail is consistently formatted, which enhances the information process and minimizes posting errors
- Eliminates the need to photocopy remittance related information as the reports can be downloaded and saved to your computer in a variety of formats (txt, pdf, html)
- Provides easy and secure access through the internet as information is available 24 hours a day, 7 days a week to authorized individuals
Subject to approval. Fees and restrictions may apply. Ask us for more details.