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| Direct debit works out well for fitness centers |
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| Direct debit is the electronic transfer of funds from one bank account to another. Hundreds of fitness centers nationwide already use e.service® Electronic Funds Transfer (EFT) to automatically collect monthly membership dues. Members enjoy the convenience of an automatic payment plan and owners enjoy improved cash flow, lower costs and greater efficiency. Make automated payment plans the standard at your fitness center. |
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| Benefits |
| You and your members benefit from the convenience and security of Vanco's direct debit solution. |
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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 initial authorization to payment confirmation. |
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| Get Started |
| Contact us for more information and 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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| Saves You Time |
| Handling paper checks is labor-intensive from opening envelopes and preparing deposits to physically transporting them to the bank. With direct deposit, payment information is entered once and continues to process automatically until changed or cancelled. |
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| Saves You Money |
| Direct debit is the most economical payment method for you and your members. |
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| Provides Timely Collection Of Payments |
| Dues are received precisely as scheduled which eliminates late payments and reduces collection activity. In the event of an NSF, you will be notified within two days of the payment date allowing you to address situations in a timely manner. |
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| Improves Cash Flow |
| With direct debit, receivables are more predictable which leads to better forecasting and planning. |
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| Simplifies Accounting |
| You receive comprehensive reports and payment histories to simplify accounting procedures. |
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| Requires No Long-term Contract |
| In an era when most service providers try to lock clients into multi-year commitments, Vanco requires no long-term contract. |
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| Needs Little Explanation |
| Your members and prospective members are probably making recurring payments already using direct debit so getting them on board with a convenient automatic payment method is easy. Consider making e.service® Electronic Funds Transfer (EFT) your preferred payment method. |
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| Provides Secure Storage of Sensitive Data |
| All businesses should minimize the amount of sensitive data they receive, handle and store. Vanco's payment solutions reduce many of the risks inherent in the monthly processing of checks. As a PCI (Payment Card Industry) Level 1 Compliant Service Provider, Vanco has implemented the toughest set of security practices across its entire line of services benefiting both you and your members. |
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| How It Works Back to Top |
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| 1. |
Authorize |
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Members authorize your fitness center to debit monthly fees from their checking or savings accounts. Vanco will provide you with a customized master copy of the authorization form. |
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Enter the Payment |
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After receiving a signed authorization form from your member, payment information is entered into our system for processing. The easiest and most common way to enter payment information is via Vanco's online Service Center, a secure website designed for our clients to manage their electronic transactions. Once the information is entered, the rest is automated. A friendly Vanco implementation specialist will help you get started and provide ongoing assistance. |
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Process |
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Prior to each scheduled payment date, 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 with a fixed dollar amount will continue to process automatically as scheduled until changed, cancelled or put on hold. |
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Confirm |
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Vanco generates a deposit report confirming the total amount deposited into your account. Your members in turn see the transactions on account statements from their banks. |
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| Frequently Asked Questions Back to Top |
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| What is direct debit? |
| Stated simply, direct debit is a secure electronic transfer of an authorized payment from a member's bank account into your bank account. Direct debit may also be referred to as electronic funds transfer (EFT), Automated Clearing House (ACH) transfer, direct payment, automatic bill payment, automatic debit and electronic payment. |
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| What types of organizations offer direct debit? |
| Businesses and organizations of all types and sizes offer direct debit to manage recurring payments. It is especially popular among fitness centers, orthodontists, property managers, schools and others who collect a fixed dollar amount over a period of months or years. |
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| Isn't direct debit just for large companies? |
| Not any more. Vanco is a small business specialist. By combining the transaction activity from thousands of customers, Vanco is able to economically deliver big benefits to even the smallest organizations. |
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| How will members know the date the payment will be deducted from their checking or savings account? |
| Payments are deducted on the date that was specified on the original authorization form unless that date is a Saturday, Sunday or Federal holiday, in which case it is deducted on the next business day following that date. |
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| If we use more than one payment solution, will we still log onto Vanco's online Service Center the same way? |
| Yes. All Vanco payment solutions are managed from the same online Service Center using a single login. Live support for all payment solutions is also provided by the same client service team. |
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| What is the best approach for getting members to use direct debit? |
| Designate direct debit as the preferred payment method at your fitness center. Typically members of fitness centers are familiar with direct debit and understand the benefits. |
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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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