Accounts Receivable Conversion (ARC) is an ACH processing service that converts a paper check, received in the mail or at a payment location, into an electronic check. The check is converted into an Electronic Funds Transfer (EFT), and processed through the Automated Clearing House (ACH).
The electronic check is presented to the check writer’s financial institution and funds are transferred into the merchant’s bank. The ARC system can provide a file used to update payment information in your in-house accounts receivable system, eliminating data entry.
ARC allows the merchant to avoid the time consuming processing of paper checks, bank runs for deposits and data entry. In most instances checks submitted electronically are processed at the bank before paper checks, giving you quick access to valuable operating capital.