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| To provide you with easy to access services, CreditSoft has added a number of financial services to its list. |
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| Individual Processing Accounts |
CreditSoft now offers an alternative to the single trust account. With individual client processing accounts you have two main advantages: |
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Preventing the commingling of client funds which helps your agency comply with the new state laws. |
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Keeping the funds in the client's name while restricting the client from directly withdrawing funds. This gives your agency more freedom to operate. |
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| Credit Counseling and Debt Settlement agencies can avert the negative law implications that some states give to single trust account management. |
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 Click here to view a full size comparison chart. |
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CreditSoft makes it easy to switch from a single trust account to individual client accounts. The following processes are automated: |
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Debit from client's checking to the client processing account |
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Synchronization of the account balances between the bank and CreditSoft. |
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Withdrawal of setup, monthly, and settlement fees to the agency from the client processing account |
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Payment of monthly dues or settlements to the creditor |
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Reporting of all activity in each client processing account |
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| Electronic Debiting |
Automatic Bank Drafts (ACH) has become the most popular way for debt management agencies to receive their monthly payments from clients. Not only has ACH been proven to increase the number of payments you'll receive from your clients. It also allows one-time fees (such as setup fees or retainers) and additional payments (for account pay-offs for example).
Through our preferred service provider, we process and deposit client debits directly into your account every month on time. When we work as your processor we provide transaction confirmations and rejections; keeping you up to date on the status of your payments. |
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| Processing Rates |
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New Authorizations or Changes to Banking Information |
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 $0.50 via web site or data file
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$1.50 if done by phone |
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Transactions |
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$0.25 per Two-day settlement |
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$0.50 per One-day settlement |
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Changes other than Banking Information |
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$0.25 via web site or data file (available after three months of processing) |
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$0.65 if done by phone |
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Returned Items |
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$3.00 per returned item |
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Credit Items |
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$5.00 Credit Back to Customer |
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Reports |
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No charge if reports are sent via e-mail or accessed on-line |
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$3.50 per month for reports sent via fax |
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NSF Fee |
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$20.00 if the transaction for the collection of returned items or the collection of program charges is returned |
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No Charge Items |
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Customization of Authorization Forms |
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No Set Up Fees or Minimum Number of Authorization Forms Required |
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**Pricing subject to change** |
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If you are interested in ACH processing, please contact us at (954) 255-2622 x 300. We offer great rates and excellent customer service. |
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| Electronic Payments |
Paying your creditors electronically instead of by paper check will increase your fair share and reduce your handling expenses.
We offer two different electronic payment processing options: |
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From a single trust account (one bank account per agency) |
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From individual client processing accounts (one bank account per client) |
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| To find out more information call us today at (954) 255-2622 x 300. |
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| Back End Processing |
We have relationships with three companies that provide back end processing services.
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Artemis Financial LLC |
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